That is a game thoery approach but it completely fails in the face of reality.

The reality is that the floor to become "useful" is relatively low, which means the few billioanires have a large pool of potentially useful people of which they only employ some, leading to no greater salaries due to labour competition.

The other potentially useful workers cannot pool together and compete as the barrier of entry in the sector is prohibitely high.

So a natural moat emerges over cost of setting up a company, workers beg for a job of which they will take for a small wage and a few billioanires control the market.

This is a much closer approximation to the market we currently see