If you believe at all in demand-side economics (and again, I really have trouble understanding how anyone could not), then this is a potential threat at least in the medium-term for the 1% as well. If the number of consumers who can buy their products drops significantly, they are going to have a problem. I say medium-term, because in the long term, automation may get so advanced that as described upthread, as long as they have access to the sun and basic raw materials, the owners of the means of production may be able to construct themselves an arbitrarily cushy lifestyle without need of consumers.
But it’s very difficult to imagine that they will use that ability to make themselves oases of confort while the masses starve and riot. At that point, it seems very likely that either governments will open factories of their own to provide for the people, or the technology may be so cheap and ubiquitous that everyone can have a little factory in their home (which also constructs their home).
So it’s in the near and medium term where things could go a lot of different ways, depending, again, on who holds sway in the policymaking world. Captor, I think you are right on to see threats to blue-collar and service sector jobs; but I think you failed to note the potential for AI to encroach into white collar areas traditionally thought of as part of the “knowledge sector”. I mentioned upthread how jobs like x-ray technician are becoming obsolete; that can apply even to further up the educational foodchain, where law clerks and even some types of attorneys may become unneeded. (Trial lawyers will probably hold on for quite a long time.) These adjustments may be the most painful and disruptive in some ways, as they will affect people who invested more time and educational debt into getting where they are–and the loss of their pride of place in the upper middle-class may be harder to accept than for service workers to adjust to the elimination of their McJobs.
I’m sure glad my wife, who just entered the working world three years ago, is a second grade special ed teacher. I think that job will remain pretty steadily needed to be filled by humans for the foreseeable future. (One of the links I posted recently stated that women’s jobs like nursing, social work, and teaching will be less threatened by automation. Thus we could see a continued acceleration of the “End of Men” phenomenon.)