Earlier quoted context omitted.
Magic or no, ultimately "AI" leads to labour displacement and it's just a continuation of the much broader trend of automation driven by computers. Labour displacement leads to an erosion of standards of living and in a world that ties purpose to work is an existential threat on a very practical level. It was always going to be met with violence once it became more than a curiosity for tinkerers.
If ai benefitted everyone and not just the billionaires we would be viewing it differently.
That's not to say we should just throw up our hands and accept every social injustice. But IMHO we shouldn't go around simplistically implying that all social ills will be solved by neutering the billionaire class.