We have already reached "peak LLM" in terms of what normal people realistically need it to know or reason about. In fact, I'd say we reached that point about 1.5-2 years ago. There are two other barriers that remain unsolved:
1. They're less dependable than humans and can't be meaningfully punished or forced to make up for mistakes, so you can't really replace humans with them, not without having a human babysit.
2. Most people don't really have a special need for an LLM in their life. They may like that it answers questions or helps you polish a resume or, I guess the labs' favorite, helps you make restaurant reservations. But this sure isn't worth $200/mo for most people. Probably not even worth $5/mo.
It'd be kinda funny if we create superhuman AGI and then no one has any real use for it, perhaps except for military murder-bots. There's always market for that.