> Capitalism requires consumers.
I disagree with that premise. For certain businesses it's fundamentally true, and right now it's broadly true because of the limitations of our technology, but I don't think it's fundamentally true for capitalism.
If the AGI hype pans out, I think we'd see an transition into an economy with a lot fewer consumers. The capitalists would eventually amass all the valuable resources for themselves, and the positive externality that currently drives the consumer economy (the need for labor to make use of capital) would run down and eventually die. Then you'd have a small cadre of elites who own the automation and the resources, and use them chiefly for vanity projects and maybe some B2B activity between themselves (e.g. electricity sales), a small somewhat larger cadre of "middle class" providing luxury/vanity goods to the core elite (e.g. high end prostitutes, Mars colonists), and a great mass of economically useless people living at the margins.
> Ergo, to keep the wheels turning, either everyone is going to have to become an artisan, or UBI is going to have to be a thing.
So the former won't work because artists can't feed themselves by trading art among themselves, and the latter's not necessary because an Elon Musk focused on personal vanity projects doesn't need consumers, he just needs resources an an AGI bureaucracy with AGI robots to command around.