I think the distinction you make is a fig leaf in a world where the rich control AGI.
If they are in control of superhuman abundance machines, where does the money paid out come from if not them?
What would it do to a democratic society if a few people have control over this machine god? How would that society be able to do anything (including raise taxes to pay for UBI) that the owners of productive force disagree with? What leverage does it have?
Once control over AGI is centralized, whoever controls it can just tell a democratic state to kick rocks and because of the dependence they've built, there's nothing the state could do about it.
In other words, once you have this sort of power centralized in a few people, democratic rule over them becomes a polite fiction they go along with as long as it's not too inconvenient at best.
I don't think you can have a real democracy unless society owns AGI. If rich people control AGI, they control society.