I'm not sure what your concept of productivity is, but instead of indicating something about productivity, I think the increasing amount of decisions to make is

I'm not sure what your concept of productivity is, but instead of indicating something about productivity, I think the increasing amount of decisions to make is actually about higher levels of complexity inherent in software development. All the simple programs have already been written, this means we can only go forward writing programs that are ever more complex to maintain the same amount of value to our stakeholders. And this increased complexity requires slightly different skills and activities than those we learned starting our careers. For in order not to break down from this complexity, we need much more powerful abstractions and ways to combine than before - more complex solutions are usually also more brittle. I think it's rather a feeling of loss of control than loss of productivity, caused by the accelerating pace of innovations. We're all kind of becoming more and more involved with architecting, configuring, installation, managing and operating rather than building (or rather, building software is changing shape), and the 'building' part is where developers naturally locate 'productivity'.