[yummypaint]

You aren't being cynical, it's basically been the story of the last half century in the US. Despite massive increases in automation of all kinds, most wages haven't kept up with inflation, and wealth inequality is worse than during the gilded age. In the tech sector we are moving toward digital feudalism in which we own nothing and survive only on the good graces of our lords. In the physical world less land than ever is owned by actual human beings, and more is being bought up every day.