You won't need money, in the long run. Just automation. And automation could self replicate cheaply, especially if it doesn't require rare materials.
Meanwhile the argument ignores the not so far away reality where automation is available to the people who already have resources and jobs today, leaving even more people who currently have little without jobs and automation.
A job is not a right today, it is a responsibility. Our society assumes that everyone, or at least a large majority of all that can, has a job. How do we prepare for a future where the majority cannot get a job?
The most promising answer currently seems to be Basic Income. Though that leaves me asking too. How will we convince people and corporations that have to give up more of their income and accept taxing their property, to redistribute all resources to a huge mass of people that have not money, nor influence? It seems very easy as long as it isn't your own money. Paying taxes, few say that they enjoy that.
[I agree that "it's owned by someone" can be a problem more than "there's not enough land". Unfortunately, that's politics so I have no quick solution.]
As for what happens to the poor in future generations, it depends on bringing out the best in those with the power to choose. I don't think the alternative is helpful to entertain at this point. The only question is whether we can mature as a race to share without force, or whether balance will be made using force (government coercion, etc...). It's a question about how much faith we have in the human race to grow up quickly.