I don't think it's a short term thing, but in the short term, yes you're exactly right.
But what are the minimum inputs necessary to build self-sustaining robotic workforce of machines that can (1) produce more power (2) produce more robots (3) produce food. The specifics of what exactly is necessary--which inputs, which production goals--is debatable. But imagine some point where a billionaire like Elon has the minimum covered to keep a mini space-x running, or a mini optimus factory running, a mini solar-city running.
At this point, it's perfectly acceptable to crash the economy, and leave them to their own devices. If they survive, fine. If they don't, also fine. The minimum kernel necessary to let the best of mankind march off and explore the solar system is secure.
Obviously, this is an extreme, and the whole trajectory is differential. But in general, if I were a billionaire, I'd be thinking "8 billion people is a whole lot of mouths to feed, and a whole lot of carbon footprint to worry about. Is 8 billion people (most of whom lack a solid education) a luxury liability?"
I really just don't believe that most people are going to make it to "the singularity" if there even is such a thing. Just more of the same of humanity: barbaric bullshit, one group of humans trying to control another group of humans.
This is the only outcome any economic model concludes. Complete market collapse. It will scream before it collapses (meaning it will shoot to the moon, then completely collapse). Way worse than the Great Depression because instead of 26% unemployment, it will be 80%.
