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If AGI resulted in software engineer employment getting wiped out, that would not result in governments introducing UBI, no.

I have my doubts that the people owning AGI would allow the rest of us to make money from them, when they could make money from them instead.

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Even if there is AGI, someone is still going to have to talk to the AGI and explain nuances of what it should be building. Real life software engineers don't agree with each other (or the product manager), that's why we write design docs and specs and talk about details in meetings that couldn't be an email. Some people just don't want to be programmers so there'll always be someone needed to talk to the computer. How many people are needed to do that may fluctuate, but also having a computer available to do the work doesn't mean there's a computer to do it either. There are machines to dig holes, but they're expensive so unless it's a really big fence that justifies renting a machine, it's still gonna be a couple of dudes with elbow grease digging holes despite the existence of heavy equipment.

Currently half the world's wealth belongs to the top 1%. I think the only thing preventing them from taking more than 50% is at some point it gets unstable.

Stuff like UBI is just another mechanism to redistribute it. UBI favors venture capitalists more than, say, Unilever. 50% will still belong to the top 1%, it just shifts who exactly the top 1% are.

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