At present, if you have financial capital and need intellectual capital you need to find people willing to work for you and pay them a lot of money. With enough progress in AI you can get the intellectual capital from machines instead, for a lot less. What loses value is human intellectual capital. Financial capital just gained a lot of power, it can now substitute for intellectual capital.
Sure, you could pretend this means you'll be able to launch a startup without any employees, and so will everyone. But why wouldn't Sam Altman or whomever just start AI Ycombinator with hundreds of thousands of AI "founders"? Do you really think it would be more "democratic"?