I think two factors against progress would be :
1.Greed
2.Fear
3.Other Point of View
The Powers that be would probably destroy the beginnings of such benevolent actions if it would destroy their power base. The introduction of cheap breastplates would allow it to equip everyone with it. The power of the knight on battlefield was partly because of his armor. Craftsmen who build in the old ways would either adopt it or destroy it out of fear to lose their own trade. Does everyone accept this idea or will he differ? Perhaps he is unsure if he can do it and people often don't like changing their ways.
Every big idea had to face opposition especially from powerful people and people set in their ways and their view of the world.
Many people were burned because they were accused to use witchcaft. They were feared because people believed they had magical powers. In D&D one 5th level mage can create havoc slinging one fireball in the crowd on market day. Even people not hit by it would be harmed as panic kicks in.
In higher levels mages can destroy villages and armies, gate in demons and what else.
How would the average commoner feel or the fighters of the realm? Probably mages would be hunted or they have to police themselves. Come on if magic was available in the real world, ppl would fear magic wielding terrorists.
Elminster and other guys have an important position to fill. Mystra shows that evildoers can be countered and there is protection for the normal guys.
At least clerics would be accepted. But these guys have to appease their deities and if the deity does not like the magetech revolution it is quickly over with it.
Probably magic would change the world in some ways but I
don't see a magic industrialization just because magic is abundant.
IMC the wizards have founded self policing guilds and hunt mages who transgressed. Healing magic improves living conditions (but not Cure Disease, only available at the high ranks)and in some cities sewage treatment is based on magic. The peasants profit from druids and clerics using plant growth spells and they are a little bit richer than normal. Most people are content with their lot. They are poor but not starving. The overall level is more like a little bit renaissance with lot of medieval elements and this will not change soon.
The gods don't support radical change, already seen high industrialized worlds going down in their own waste, no thanks, thinks the god of life and nature, keep it sylvan, work with your own hands and have a good day.