Seems like that would have to be the inevitable result of all this. When machines can do most jobs better than humans, then the whole idea of working for a living stops making sense.
The benefits of cost cutting measures without appropriate investment is because theyre shooting for the buck, not true success. Also you can now be sold v2.
Adapt or die. Societies that do not adapt to these changes will not have a good time. It's easy to ignore workers and just say "well, you're replaced, now fuck off". If the government doesn't take care of them and keep them happy, it could easily have negative consequences for the government.
Imagine if 30% of the workforce were fired within 5 years and couldn't get a job because AI did everything. Would 30% of the population just be happy going from something to homeless? How would the country absorb such a change? Governments can keep looking at the shiny money companies pay them to look the other way, but just because they ignore to see things doesn't mean they aren't happening. Either they are forward thinking and prepare or they will find themselves up a creek.
There's also a second aspect to this as well. Capitalism is built on consumerism which requires people to work to earn disposable income that they spend on goods and services.