I don't understand. In this hypothesis, in the elite's view, what is the purpose of the rest of society? If everyone has little to no productive output, why would they support us with a UBI? They could just hire whatever human skeleton crew they'd need to sustain their activities (if needed). The rest of humanity could be either mercifully left alone with absolutely nothing, or annihilated.
I'm definitely making certain assumptions, such as: (1) democratic rule endures, (2) even absent true democratic rule, the populace can still resort to violent rebellion as a failsafe, (3) psychopathic tendencies amongst said elite are constrained enough such that mass genocide remains sufficiently psychologically unpalatable, (4) economic calamity substantially precedes the deployment of fully autonomous policing, etc.
How this all unfolds is absolutely path dependent.