2. You and your friends are probably not like the average person.
3. You were probably raised with the idea that it's very important, both financially and socially, to have a job. It might be a lot harder to raise your kids with these values if they grow up in a world where working or not working has no financial impact.
A farmer might still plant, but decide to plant flowers instead of food. Or maybe they would plant exotic fruits instead of staple foods.
A programmer might still program, but they might decide to play with algorithm problems instead of developing medical software.
Not working means that you reclaim 50%+ of your awake time, and not any 50%, the 50% during which you spend most of your energy. I'm already living on ~70% of the min wage of my country, and I don't feel like I'm restraining myself at all so it wouldn't be such a big deal.
One might argue that this is all work.
Seriously? You mean Bill Gates works because otherwise he'd starve to death?
More seriously, I challenge you to hold a poll among your friends - given $x per month where x is enough to survive, would they stop working?
Everyone I speak to about this says that he/she personally would not, but the "other people" certainly will.