The great depression only had about 30% unemployment, for example. That "overautomation" phase isn't something you'll want to linger in without a plan to support these people.
EDIT: For a glimpse of the future, https://www.youtube.com/watch?v=XRXr7zB5M2A is worth listening to. It's the present, actually, but the struggles are only going to increase.
And even if there ever is a plan of how to deal with all this, I can't help but think it parallels the old sci-fi short story "With Folded Hands".
semi-sequitur: From my liberal bubble, the liberal bubble light bulb buzzes over my head thinking, perhaps that whole short story is exactly what strikes conservatives to the core. It kind of makes sense. I kind of see what they mean. Granted I have no clue what that has to do with gay rights. But for a second I understood. Sympathized, even. Anyway, back to the bubble.
So rather than a single huge mass event where automation destroys our fabric of life, we'll have swings back and forth from overautomation to overemployment. Each swing will give us a chance to re-evaluate and rebalance our priorities.
Essentially that's already happening and has already happened over the last ... couple centuries really. I guess there's a chance that the pendulum could suddenly swing so far in one direction that it's irrecoverable, but at least I don't think one can say it's inevitable.