It doesn’t take massive intelligence to sit on all the capital and charge rents. The owning class isn’t going to just give up control because the AI could run things better than them.

"The ownership class is so smart" is just ownership class propaganda. Wielding power is brutish, not smart. They keep selling us innovation as some transcendent tech that will free the masses (Arab Spring anyone?) yet every time the tech ends up shifting power up. AI will be the same.