In this he puts forward the idea that capitalism would become a fetter on the further development of production and would be shuffled off in an unspecified way. He puts up the vague idea that capitalism would become so big and so planned that socialism, purely in terms of efficiency, would be the next logical step. Capitalism would rationalize itself out of existence as he put it in his 'Grundrisse' notebooks for 'Capital'. This is very deterministic thinking. It removes workers from the stage as consciously molding and changing the world.
Socialism becomes a matter of waiting for capitalism to mature.
This was the reason for some Marxists like the German Social Democrats believing there was no need for a revolution. Marx, and then Engels after his death, did follow this through to it's logical conclusion. They flirted with the idea of bringing about socialism through social democracy and the ballot. In 1869 they supported the German Social Democratic Party's line of forming alliances with right-wing parties. Bakunin poured scorn on these ideas.