That's not a very convincing argument. Even if you can do 10x the work, that doesn't necessarily mean you can easily find customers ready to pay 5x the hourly rate.

I understood their comment as going from

$100 / hour * 100 hours

to

$100 / hour * 500 hours

not to

$500 / hour * 100 hours

Yeah the last one. The others would require 5x deal flow which LLMs might not help deliver at all. But the last one should exist for people if 10x is true. Not every client can have already fully price in LLM improvements, people have contracts negotiated pre LLM. I have not heard of this though so I have to remain sceptical

But it specifically mentions having 5x the previous hourly rate.

Not everyone bills hourly. I mostly do fixed price contracts