> But if nobody has money to buy things then there is no point in producing anything.

The top 1% can still buy things. They can buy a lot of things, in fact. In 2024 in the US, the top 20% by income account consumed roughly the same amount as the bottom 60% (https://www.bls.gov/news.release/cesan.nr0.htm). This gap has widened over time (https://fred.stlouisfed.org/graph/?g=1W5px) and will probably continue to widen even further.