Top 1% and top 20% are entirely different numbers, and majority does not mean all. If the bottom 99% or even 80% of people were unable to meaningfully engage in the economy it would collapse. We already know this model does not work due to several centuries of feudalism.
It's also insane that we have come to the point that you can say something like this and publish an Axios link when anybody could just go outside and see most people are employed, participating in the economy, not homeless, have food, buy things and enjoy luxuries.
Am I to believe that Jeff Bezos is the primary driving force behind Labubus? Is the Chipotle down the street waiting for Elon to come to town so they finally have a customer?