If you assume that each person takes at least 10 seconds to make the decision, it would take something like 2500 years for everyone currently alive to cycle through one time, at which point we’ll have plenty of new people to pass the decision along to.
As long as we don’t increase the human lifespan past 2500 years or fully stop reproducing, we should be okay!
“Also what’s the ethical structure behind literally enslaving a species of creatures and forcing them to cook our meals and keep our homes?”
“Well Harry you see, they’re lesser than us and also they like it that way”
“…”
(Harry Potter? Not a great book series, from a not-great philosophical mind.)