I don't think so, I think they know there's no AGI, or complete replacement. They are using those hyperbolic statements to get people to buy in. The goal is just to depress the value of human labor, they will lay people off and hire them back at 50% wages (over time), and gaslight us "well you have AI, there isn't as much skill required"

Ultimately they just want to widen the inequality gap and remove as much bargaining power from the working class. It will be very hard for people not born of certain privileges to climb the ranks through education and merit, if not impossible.

Their goal will be to accomplish this without causing a French Revolution V2 (hence all the new surveillance being rolled out), which is where they'll provide wars for us to fight in that will be rooted in false pretenses that appeal to people's basest instincts, like race and nationalism. The bunkers and private communities they build in far off islands are for the occasion this fails and there is some sort of French Revolution V2, not some sort of existential threat from AI (imo).