Here are my thoughts, which are not fully formed because AI is still so new. But taking this line of thought reductio ad absurdum, it becomes apparent that the elites have a critical dependency on us plebs:

Almost all of their wealth is ultimately derived from people.

The rich get richer by taking a massive cut of the economy, and the economy is basically people providing and paying for services and goods. If all the employees are replaced and can earn no money, there is no economy. Now the elite have two major problems:

a) What do they take a cut of to keep getting richer?

b) How long will they be safe when the resentment eventually boils over? (There's a reason the doomsday bunker industry is booming.)

My hunch is, after a period of turmoil, we'll end up in the usual equilibrium where the rest of the world is kept economically growing just enough to keep (a) us stable enough not to revolt and (b) them getting richer. I don't know what that looks like, could be UBI or something. But we'll figure it out because our incentives are aligned: we all want to stay alive and get richer (for varying definitions of "richer" of course.)

However, I suspect a lot will change quickly, because a ton of things that made up the old world order is going to be upended. Like, you'd need millions in funding to hire a team to launch any major software product; this ultimately kept the power in the hands of those with capital. Now a single person with an AI agent and a cloud platform can do it themselves for pocket change. This pattern will repeat across industries.

The power of capital is being disintermediated, and it's not clear what the repercussions will be.