This to me is what is really happening. A good symbol of this is income inequality and to a lesser extent, no real action on climate change.
Eventually, the "lords" will be in their castles were we most people bake. The "knights" could be the tech people.
That way "upper management" has been turning workers against themselves for ages; just convince the more lucky of them that they are entitled and destined to be part of the elite. Someday.
It's working splendidly.
Unfortunately the lords think they will be able to survive in little mansions and that climate change will never make them miserable personally. So they have spent small amounts of capital brainwashing rubes against taking any action so they can continue raking in large amounts of capital with destructive practices.
In it the Knights were the devs, CEOs were earls, Kings were presidents/dictators.
Users (naturally) were serfs.
It fits pretty well to current megacorp structure.