I think there’s a version of the Malthusian trap that has explanatory merit - the idea that as population increased, you got diminishing returns from more people farming the same land. Population would therefore increase until famine, after which there would be good times until the cycle repeated. This cycle was broken by the industrial revolution.
Isn't this the same "trap" that any living life "falls into"? It gets many offspring, and only those survive who can feed themselves. Exponential growth fills up the niche until there are no more resources: any successful species is trapped against some kind of resource or environmental ceiling, unfortunately.
Is there a ceiling in the industrial revolution era? Famously the 1972 book Limits to Growth says yes for that question.
It honestly worries me when I see people paint the whole "everything is a hallucination" angle as uniquely applying LLMs...
If you're going to be that loose with your definition of hallucination, I'd really hope you apply it to yourself. That's a level of introspection that you need to avoid letting biases that all of us have deep down end up affecting your higher order function.
We humans rely on a ball of biases, interpolations and extrapolations to function, LLMs don't have a monopoly on that.