If the technology pans out the way the techno-enthusiasts hope it will, upward social mobility will be nearly eliminated... unless there's some kind of successful Luddite revolution against the technology and the people that own it. But that's not going to happen: there are all kinds of social pressure against revolution, as well as strict gun control in most places. Anyone who tries to resist their obsolescence will soon find themselves either ridiculed and condemned or in jail.
Of course, downward social mobility will accelerate, and be celebrated by idiot technologists who just want to build tech, and don't really care to think about the consequences of the technologies they build on real people.