The profits of this slimming have not necessarily trickled down.

Don't trivialize these points. This has been the econo-political trend for decades, and only now is the general public starting to become aware of it (thanks in no small part to Andrew Yang).

It's also the dark secret of the idealistic neoliberalism taught in undergrad economics classes, where they like to emphasize that "the pie has grown" with little regard to how said pie is distributed. Economists understand the subtlety here, but it doesn't end up in the lesson plans and kids come away with some pretty warped ideas about what economic policy.