is/will there be less to do?

in the future, maybe so, but decreasing employment is surely bad during a labor shortage: you do need workers for a functioning, productive economy.

the rise in buying power may look good by the numbers, but doesn't inherently better society -- consumerism doesn't encourage quality goods/services. take AI: it's a lot easier to replace human workers when they've quit, when the positions are already vacant. you don't need to provide on-par performance or quality service(s), just fill the shoes with slop