I don't think it will happen. They can't even fix already existing tools that are supposed to reduce the workload of the current moderators. Ironically they are also massively relying on 3rd party Bots for things they could have introduced years ago for all subreddits by default.
They also can't use "a LLM", they would have to give each subreddit a own LLM (or at least make small Subreddit groups). Each subreddit has different moderation requirements, small nuances that change how a Subreddit has to be Moderated. You can't moderate all subs exactly the same. Also, it will be really hard to not decrease the satisfaction in the Community by only looking black and white at some things, Moderating is full of individual Decisions. You also can't really outsource local subreddit to someone that hasn't even a clue if the construction site that's discussed exists and doesn't know wordplays that are new and only used in that specific region.
If their entire business can be held hostage by a few power mods, then it's in their best interest to reduce risk.
Reddit has only a low percentage of power Mods and they probably don't involve themselves into this issue. The Majority of Moderators that want to prevent this change are people that do a ton of work for their subreddit and REALLY care about them.
As much as he probably wants, because he stopped caring a long ago, Steve will need to continue to involve voluntary Moderators. He also should start to make long term decisions because most of the recent changes may be short term improvements for the ad revenue but they made actually using the site a lot worse. (Ironically they are also destroying their own App while they want to force everyone from 3rd party to)