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In the end, if the singularity arrives, it will be just compute too.
That's assuming that all problems are computable.

We still have stuff like godel's incompleteness and the halting problem that hint there's more to the universe than computation.

Food for philosophical thought.

I think you are both right. Emergent complexity is a real thing, but it isn't limitless in its power either.
'Everything is Atoms' ok but I think that as AI advances we will have evidently more clear abstractions, which we're not seeing yet.