Fortunately no government or CEO is that cynical.
Individual people will decide what they want to build, with whatever tools they have. If AI tools become powerful enough that one-person companies can build serious products, I bet there will be thousands of those companies taking a swing at the “next big thing” like humanoid robots. It’s a matter of time those problems all get solved.
I'd like to believe personal freedoms are preserved in a world with AGI and that a good part of the population will benefit from it, but recent history has been about concentrating power in the hands of the few, and the few getting AGI will free them from having to play nice with knowledge workers.
Though I guess maybe at some points robots might be cheaper than humans without worker rights, which would warrant investment even when thinking cynically.
Manual labor would still be there. Hardware is way harder than software, AGI seems easier to realize than mass worldwide automation of minute tasks that currently require human hands.
AGI would force back knowledge workers to factories.