The issue here is definition of useful/useless. If you manage to market regular rocks as magical and convince people to pay a lot of money for them, a capitalist will gladly pay for everything from digging to shipping of those rocks.
From a common sense perspective that activity is useless because it's purely wasting resources with no useful effect. From a capitalist perspective the activity is not useless as it brings profit.
And yet if you spend any time in any large corporation, you'll find countless examples of these, including in the tech industry. Don't you have any friend working for Google/Meta/${big tech co}?
Bullshit jobs can and definitely exist with capitalism: any successful and large business is filled with them.
I don't think we should be interested in the "asymptotic theoretical limit" of capitalism which is never reached. Let's discuss "capitalism in practice", not "capitalism in theory". If things self-correct in a time frame longer than your own lifespan, do you think it's an ideal scenario? I personally don't.
I don't see the government forcing Google to pay thousands of highly qualified workers to fill in BS jobs. This is a natural consequence of being a very successful business: complacency, empire building, etc all decorellated from economic incentives.
People spend decades with BS jobs in a very capitalist society.
Note that I've never argued that a socialist alternative is any better or that the government isn't filled with BS jobs either.
I just observe that the problem manifests itself regardless.
If there is not a better option, then yes.
Bullshit jobs don’t exist in the free market, as no capitalist would pay for someone to do something useless. If that is happening it would certainly be because a government regulator required someone to sit there twiddling thumbs.