If you want to claim that that's a realistic outcome you should look at how people lived in the 50s or 80s vs today, now that we've driven up income inequality by dramatically lowering top-end tax rates and reduced barriers to rich people buying up more and more real property.

What we got is actually: you can't buy the same house as before. You can buy an iPhone that didn't exist then, but your boss can use it to request you do more work after-hours whenever they want. You have less money remaining. You have less free time remaining.