Comparable being the key word there. AI marketing is threatening to eventually eliminate most white collar work. The exact high paying jobs (at least in the US) that enable upward class mobility and fuel the consumption based economy.

Take those away and tell everyone "sorry, go do physical labor now for half or worse of the salary" and that's a big problem.

Automation is a boon when it automates physical labor, not when it automates away knowledge work.

The other big worry is, what if it just doesn't do what is promised and these trillions of dollars that were spent assuming magic would happen were all for nothing? I mean, other than to make a handful of extremely wealthy individuals even more wealthy at the expense of everyone's retirement funds.

There's also the worry whether productivity is real.

There is a basic problem with framing though. Why does the labour need to find somewhere to go, but capital doesn't? Why can't the increase in productivity be captured by labour and denied to capital?