It’s not gonna reduce anything, it’s gonna shift workload from one job to another. What very likely will happen it that old jobs die out and new jobs appear.
Ten years ago movies where shot on actual film stock(and still is, not just in that amount anymore), than came that transition to digital, where suddenly jobs popped up like dustbusting film scans before DI(I had this job for about a year) and then disappeared because now everything(with exceptions) is shot digitally so you don’t have scratches and dust from camera gates in stock footage.
But it also resulted in people shooting more in general and shooting more footage per production(hard disk space is cheap opposed to film stock, hell yeah, let’s do 15 takes instead of 4 and let post deal with it). Shooting digital created jobs like Digital Image Technician, Data Wranglers, DI operators who do what now more and more disappearing material assistants and film lab employees did before.
Postproduction (which is a way bigger field than only bling bling VFX eye candy) will not disappear because you cannot produce a movie that’s completely like the end result from the start, so there will be always a tremendous amount of work which has to be done by people who know what they do. That demo was impressing but not flawless, so someone will be needed to correct that flaws.
And another thing. There might will be realtime CG in 5 years IF(big if, f***ing big if) the distribution technology around it won’t evolve meaning 4K being the end of it which is not gonna happen.
We’ve seen TV going from SD to HD and now ultra HD and it’s not gonna stop there.
It’s a market and once it’s saturated there’s gonna be need for a new market by those who deliver. We don’t need HD, crappy TV is gonna be crappy TV regardless to resolution and it’s not gonna get less crappy in the soon to be come UltraMegaBazinga HD**+ ultra, but hey, evereybody is totally gonna need new stuff.
Which will lead to new technologies, new workflows, new software, new jobs.
If you search this forum there will be endless threads of “will new software make may job obsolete since now everybody can do 3d” which are bollocks, there’s pencils around and paper for almost free yet we still don’t see 6 billion Da Vincis walking around.
There will always be work to do and staff that get’s it done. The question is where that work is gonna happen and who’s gonna do it.