Earlier quoted context omitted.
That's a highly idealized view that I hope we can agree doesn't completely jive with what we see in society today. If a small number of shareholders reap all the profits, the vast majority of the benefit from automation flows to them, and it's even possible for the lives of average people to get worse as automation increases, as average people then have less leverage over those who own the companies.
Inflation adjusted incomes are up in the US across the board. The affordability problem is largely the price of housing because it's illegal to build.
Also any comparison of wage growth vs corporate profit growth over the last 30 years shows that wages have not kept pace with the increase in productivity.
So incomes are only just barely keeping up, when they should be booming.