The reason the AI Bubble will pop is not mass layoffs and the economic consequences thereof. Those glorified text predictors aka LLMs simply can't meaningfully replace workers on a larger scale. The AI Bubble will pop because the technology is a hype, an unsustainable fantasy and the enormous amount of money speculatively pumped into the companies involved will vanish and drag the economy down with it.
AI Boosters and AI Doomers are two sides of the same coin: Both assume that AI technology is about to become insanely powerful. That's why Altman and his billionaire friends have no problem speculating about mass job loss or the impending end of humanity through AGI. Both sides serve to fuel the hype and this obscures a third possibility: That LLMs are limited in what can be done with them and relying on them to fulfill a promise to actually replace humans might very likely be a dead end. A collective realisation that those lofty promises are just the equivalent of pulling a rabbit out of a hat is what will burst that bubble.