This "fallacy" is from 1891 and assumes jobs that require virtually no retraining. A farm worker could ion theory clean the factory floor or do one small step in an assembly line within a week.

Nowadays we already have bullshit jobs that keep academics employed. Retraining takes several years.

With "AI" the danger is theoretically limited because it creates more bureaucracy and reduces productivity. The problem is that it is used as an excuse for layoffs.