Yes, but once Moore’s law really stops, the need for product iteration will too, unless you can get functionality gains from increased performance. Once you start caring about performance, you’ll rapidly realize the “productivity” languages slow you down.
For example, try to compute CRC32 checksums of 100 byte arrays at bus speed in C/C++ and then in the higher level language of your choice.
Can I use rust as my higher level language of choice? :)
In all seriousness though, I wonder if once Moore's law really stops we'll see a surge of innovation in compiler and language paradigms, born out of necessity. It seems to me that the revolution in higher-level languages and paradigms came because we could (computationally) afford it, so it makes sense that once the incentives change we'll see innovation in other areas.
I would think other HN readers are more at the center of things than me and better equipped to comment, but my perception is, comparing the last ten years to the ten years before that, we have seen Moore's law stop and we have seen a surge of innovation in software, and even in chip design when you consider things like TPUs. It seems odd to present it as speculation about the future.
For example, try to compute CRC32 checksums of 100 byte arrays at bus speed in C/C++ and then in the higher level language of your choice.