It will take off, think about it, thrust is gonna move the plane regarless of the surface below. it could be treadmill, ice, or magnetic levitaion. With the free rolling wheels of the plane, the speend will increase exponentialy as the thrust increases. and the treadmill will increase just as fast, but within a short time the thrust of the engine will get the airplane airborne. To better explain this, think of a prop driven plane, the propellors actually move the plane forward by pulling the plane through the air as the props turn so no matter how fast the wheels roll in any direction, the plane will still be pulled forward in the air by the propellors. A very similar thing would happen with the concept of a jet engine, a turbine engine use thrust to "push" on the air behind the plane, therefore moving the plane. so here also the plane would move forward cause it is "pushing off" of the air behind it and the free-rolling wheels would just spin up at an incrediable rate along with the treadmill until lift off, so my final conclusiion is that the plane would take off.
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