> Stuff will be cheaper to make which means raising life quality for everyone

At the risk of repeating myself: who is going to buy it, when wealth is increasingly concentrated in the hands of the capital-owning elite? If human labor can't compete with AI, what value can a person exchange in the free market for goods?

> This didn't happen with previous technological revolutions,

Yes, it did [1]. Maybe you should study some history before leaping to conclusions.

[1] https://en.wikipedia.org/wiki/Robber_baron_(industrialist)