Let me give a nuanced take:
Automation is a self-correcting loop given a big enough context. When humans stop earning, they also stop spending money on the very products made by it. This lessens the value of automation until it intersects with wages.
How on earth do people still assume blue-collar work is safe from automation?
A robot can work 200 hours nonstop.
A human works around 40 hours a week, needs weekends, sleep, breaks, sick days, and vacations.
That changes the economics completely.