Or, alternatively, they'll ruin the earth's climate in their selfishness and greed and either find a way to leave the planet and abandon the plebs to die, or more likely, die right alongside us as the climate collapses and ecological disaster wipes out the human race.

Either way, greed ends up destroying us all.

I see a different future. The tendency of wealth to be drawn upwards as position comes to replace labor as the primary means of gaining wealth ultimately puts a cap on progress. It's a soft cap, meaning it might happen sooner or happen later, but it will happen sooner or later. Eventually, the imbalance reaches a tipping point, where the slightest jolt to the system sends the entire thing crashing down. Maybe people get pissed enough that general rebellion breaks out. Maybe the population becomes sufficiently stressed and undernourished and, therefore, immunocompromised that a global pandemic goes well beyond COVID into Bubonic Plague territory. Maybe peoples faith in the system becomes so thoroughly damaged that law breaks down generally, forcing those ultra rich to devote so many resources to security the people providing the security become the new elite. Allowing "position" (in Classical Economic parlance, "Land") to be in itself a source of private revenue sows the seeds of destruction for a progressing society.

Of course, once enough people die and enough capital is destroyed, society starts over again, going once again through an age where labor is in the drivers seat, until population and capital base recovers.