It is very similar to the current situation, but intensified. Technology tends to be an intensifier for existing power structures.
Is that anything new? That seems to be a repeating fact of life throughout history.
We need not totally avoid such changes (i.e. shun technological advancements entirely because of their social ramifications), but we need to be mindful of their effects if we want to improve our current situation regarding the distribution/concentration of wealth and power in the world.