The way I see it, automation destroys jobs for stupider people and creates jobs for smarter people. Ten jobs making widgets are replaced by one job as a widget robot repairman (and 0.001 of a job of a widget robot designer) and bam, we're making ten times more widgets. But the job of robot repairman is a more intellectually difficult job than the factory workers had in the first place.
Hundreds of years ago, 95% of jobs could be done with a two-digit IQ, because they were things like ploughing fields and herding goats. But we've been automating all the easy jobs and creating new, more fulfilling jobs, and getting richer in the process.
At some point though, which I think is right about now, we cross the point where less than 50% of the jobs can be done with a two-digit IQ. We no longer need manual labourers, we need people who can design and maintain robots. And the fact is that 50% of the population is of below-median intelligence and will have trouble doing these new jobs.
What do we do with all these people who are incapable of performing any worthwhile role? In the longer run perhaps we can genetically engineer people so that everyone can be a robot engineer. But in the meantime?
So yeah, I think it is a genuine problem we're going to have to face eventually.