The end state of genAI could as well be a few billionaires being their enterprise and everybody else being unemployed or working at the factory. Robots are not there yet (far from it) and someone needs to build and maintain the thing as well as food for everyone. High unemployment could drive salaries down and make lots of thing unavailable to the common people while making humans cheaper than automation for boring manual work.

That's an extreme scenario but today's politicians are not very keen into redistribution of wealth or prevention of excessive accumulation of economic power leading to exceeding the power of the state itself. I see nothing preventing that scenario from happening.