We do have a historical examples for horses, though, which was reached somewhere between around 1900 and 1920.
If we need jobs, we will create them, do not worry about that, see David Graebers work on the topic.
A scenario where people in creative jobs are essentially dispossessed with tax-avoiding megacorporations being the only profiteers is not the only possible option.
We as society could also decide that e.g. there have to be free occupational retraining options for those affected (as happened in other instances of technological revolutions), and AI models, or their underlying data, have to be open source of some new kind and so on.
Now, though, we aim society towards 5% of people who want to work not having some opportunity to do so, while doing some paperwork magic to exlude an order of magnitude of other non-workers from that measure. Meanwhile, we recognize widespread depression and anxiety that makes sense in a society where most people have no clear, constructive community obligations to give them direction and we struggle to reconcile liberal ideas of universal life, liberty, and happiness with the intuitive collectivist expectation that everybody should be chipping in (even when they have no opportunity to do so).
One can argue it's all been worth it, or that it's surely the road to some future utopia, but "completely wrong" is maybe not the right word choice for the opposing view.
Consumers decide whether something is too "special" to automate. If you want hand-drawn art, you're welcome to pay extra for it - just like you can get handmade pottery or clothing today.
People make the argument every day that I will die one day. They've been completely wrong so far, this proving that the argument is wrong.
There is a speed at which people can train for new jobs X, and a speed at which new jobs displace old jobs Y. If Y is twice X then your talent pool is half what it could be.
If Y shrinks to only days and X plateaus then the human body becomes just robotic hands that the computer tells what to do. Unthinking meat, incapable of making a decision, never aware of the implications of the decisions that are made on its behalf.
The ratio of the population chanting "Butlerian Jihad now" is currently small. How can I capitalize on a belief that this number grows fast?
Automation has made it possible for cars, cellphones, manufactured goods, air conditioning, running water, etc to be available to everyone.
> Automation has made it possible for;
> cars
We are choking to death on fumes and micro-plastics. CO2 is destroying the planet. The roads are grid-locked. We should be walking more.
> cellphones
We're in a massive global mental health crisis as attention spans plummet and depression soars. Cellphones have ruined family life and turned work in to a 24/7 activity.
> manufactured goods
Our overflowing landfills are spewing methane into the atmosphere from 7 decades of pointless plastic rubbish we make and throw away two weeks later. Nothing we can make lasts.
> air conditioning
Open the window.
> running water
Just No! The Byzantines and Romans had running water. Automation has nothing to do with it.
> Everyone has upgraded.
We work longer hours for less of a stake in society than at any time in history.
You know - I love technology, We really could have done something with it. But we let convenience, greed and vanity be our guides. Just maybe a good start would be to quit with this hopeless mythology and hubris, to actually think critically about the tradeoffs we've made and see just how much harm we're doing to ourselves.
Edit: For context I'm referring to "cheaper/better/faster production" having a negative impact of the quality of housing, which disproportionately impacts renters, who don't have the ability to improve their rented dwelling. Regulation is the only thing that will improve the housing situation for those born too late to buy in the current market.
Job loss is temporary, the gains from cheaper/better/faster production are permanent.