Not if. When AI becomes ubiquitous (like electricity and vehicles have), even the concept of income will disappear. Things will just be available for people to satisfy their needs, because scarcity (primarily caused by bad resource distribution) will essentially disappear.

right... AI will magically fix greed and we'll all live happily ever after

No, it's very much "if". AI can't even do the things it is claimed to be good at today. It is a wash, or a small gain, for engineers of any reasonable competence. The idea that it's going to replace people is not remotely guaranteed based on current capabilities.

You're describing an economic situation that has never happened. Electricity and vehicles didn't make income dissapear.

So in the short term, it seems likely to deflate the cost of software and other products/services produced by professional workers. If it becomes good at other forms of production (i.e. physical things, physical labor, etc.), perhaps it causes currency exchange to become pointless.

There are a few caveats to this that everyone seems to leap over, one very important one is that the a priori control of production, land, and natural resources is not egalitarian, and there's no reason to really believe it would become egalitarian even if people could in theory produce everything they wanted/needed for themselves.

But even barring that, we live in a world with finite natural resources. And that by itself should be a serious concern for anyone who sees this as a possibility. I get that optimists also seem to believe that technology we don't have like dyson spheres, asteroid mining, intergalactic travel, etc. will solve any resource scarcity concerns, but that is not a given, and developing any of those things would still rely on our planets natural resources to even bootstrap.

We live in a world that can't even coordinate the safe development of models or nuclear anti-proliferation, and already experiences rampant injustice surrounding use of our planets natural resources, which does not bode well for the future.

And even if we did end up in a world where these problems were solved, advanced models posed no threat to our existence, etc. they would not be solved instantaneously, and would likely cause catastrophic changes to society and massive amounts of suffering. We can solve scarcity of basic needs and access to medical care, decarbonization, etc. today. Without the use of AI. We do not need to go through years of suffering because tech execs want their play things.