In the absolutely free market price will go up a lot in the end. Because only one monopoly will exist by that time and it will jack up prices to the maximum tolerable level. And that level can be surprisingly high, because in every human activity there will be few willing to spend crazy amounts of money for practically anything they perceive valuable.

If the price of everything would go down it wouldn't be too concerning and everybody would be on board with the "beauty" of it.

What seems to actually be happening for white collar workers is that the price they can charge for their labor is dropping, but the price of their expenses (housing, food, gas) continues to rise.

The free market hypothesis is about resource allocation, nothing to do with price of everything going down