It will help you communicate, but not partake.

That could a long time or it could be a very different implementation than the one you describe. Half of the world knowing 2 or more languages and that has been growing over time. I don’t see the evidence that technology will soon close the gap of speaking and understanding another language when in comes to communicating with family, music, business, participating in community events, volunteering, or even intimacy.

If this happens, professional or reliable translations will only be accessible to those who can afford/pay them, leaving everyone else stuck with the errors produced by LLMs.

To use machine translation, one have to know the language to review the output; otherwise, you're doomed to mistakes. Whatever you do with LLMs, the same thing will happen.

I would name all the marketing surrounding the A"I" as the LLM's blindness virus, or something similar.