A cogent and well-written article.
My only possible contributions are the following:
1. The author perhaps underestimates the bottom 90%, who are written off as politically irrelevant (in terms of real power) near the start of the article.
I do think there's a good reason for this, but we are only one true crisis away from that changing. For example, suppose India and Pakistan only were to have a nuclear engagement and the outcome was a small global "winter" for a few years from the dust and rubble kicked into the atmosphere. When crops and supply chains fail and famine kicks in, who is going hungry?
That's about the point that true populist revolts happen.
2. The author discusses at length the phenomenon of "the 10%" elites who align themselves (in ideology) with the working class, perhaps blinded by not realizing that they are actually trying to support their own interests.
But I think some underestimate how soon the developers and programmers of the world will crater from "elite 10%/5%/1%" to something resembling median salary.
This is my own opinion, but it's clear to me that the tech industry (and it's associated venture capital scene) are in a state of irrational exuberance as the capitalist class is convinced that tech startups (or the word "tech" attached to non-tech startups) offers incredibly high ROI.
This paradigm will end as easy opportunities and low hanging fruit dry. Maybe we're already there, but nobody has acknowledged it yet. When this happens (and is widely recognized), venture capital will flee to safer vehicles. Meanwhile, the big tech of the world will consolidate and cut costs to grow shareholder value.
When this happens, we will all stop hopping jobs for 30% pay raises and instead we will start hopping jobs (post-layoff) for 30% pay cuts. And this will continue for decades.