I think directly increasing efficiency for programmers has the effect of accelerating everything you say is "on the other hand"

But I'll ask you this:

Say this increases programmers efficiency by 100%. So now 1 programmer is able to get done as much work as 2 programmers. You can say "great, now they can get twice as much work done, so the company will get double the value"

But if that's truly the case, why wouldn't that company, today, just hire more programmers? Is it a matter of cost? So would it not make sense that a company could also have half as many programmers if they do 2x the amount of productivity?