Probably much worse, as you won't need people as much, so wages won't be forced to go up as much, meanwhile we'll have more people than ever...
So much more demand for jobs and salary, yet less supply of them as AI takes them...
Just means rich get richer and poor get left further behind. The real question is where does it leave the middle class which was already shrinking, it probably makes it even smaller and more going to the poor side than the rich side, but some of both, but more poor.