This time around it's the middle class that's taking the hit. Our consumption fuels the process that does result in a certain re-distribution of wealth, and yes, some of that does indeed reach the poorest. That's good. Most of the cash flows up though. The richer do become richer, and the middle class is probably going to be a thing of the past in 30-40 years. If we continue down the pre-COVID path then the middle class will be replaced by a consumption economy powered by debt, and where the richest own the debt and the rest will have to live a life constant work in order to pay their debt.
Mind you, this won't necessarily be a horrible existence; people will still have access to modern technology, will still have streaming services, phones and whatnot. Compared to how average people lived 500 years ago it will most likely be quite a step up.
The former middle class, on the other hand, will have much more limited freedom, and far less influence on their own situation compared to today.
Time to re-read "The Space Merchants" again.