What happens when the mass is struggling and has a lot of free time because everything has been automated? The billionaires seem to not have planned more than one step ahead.
https://www.theguardian.com/news/2022/sep/04/super-rich-prep...
That said, it is no by no means a certainty that increased automation will reduce the overall number of jobs or rate of employment. It has never done so in the past.