If your argument is that value produced per-cpu will increase so significantly that the value produced by AGI/ASI per unit cost exceeds what humans can produce for their upkeep in food and shelter, then yes that seems to be one of the significant risks long term if governments don't intervene.

If the argument is that prices will skyrocket simply because of long-term AI demand, I think that ignores the fact that manufacturing vastly more products will stabilize prices up to the point that raw materials start to become significantly more expensive, and is strongly incentivized over the ~10-year timeframe for IC manufacturers.

>the value produced by AGI/ASI per unit cost exceeds what humans can produce for their upkeep in food and shelter

The value of AGI/ASI is not only defined by its practical use, It is also bounded by the purchasing power of potential consumers.

If humans aren’t worth paying, those humans won’t be paying anyone either. No business can function without customers, no matter how good the product.