People who enjoy the resulting concentration of wealth will find better things to do with their time. The much larger group of people who see their wealth diminish will not.
My cynical take is that the rest of us will be funneled into endless war and plague scenarios until the population is small enough to be less of a threat to those who enjoy that concentrated wealth.
There are probably easier and less chaotic ways. If you get like a nice AI enhanced VR world and some AI generated new drugs and such you can just have everyone live out their existence in a parallel reality in some kind of an oblivion. I’d much rather have that as a rich person than billions of dead and everything destroyed