The prose is a bit florid, but once you strip off the ornate language the underlying analysis seems pretty sound: the Left failed the working class for decades and while the Right is unwilling to make actual economic concessions to the working class, they are willing to stick it to upwardly mobile knowledge workers and other over-educated sissies via some combination of AI hype and market capture as one of several trinkets.

This suits FAANG CEOs and their immediate henchmen right down to their On sneakers.

"when different social interests seek their own short-term benefits rather than coalescing behind a vision of social development."

German economic sociologist Wolfgang Streeck paved a lot of this theory in his book "how will capitalism end?"

Streeck posits that because contemporary capitalism is beset by five disorders—declining growth, oligarchy, starvation of the public sphere, corruption and international anarchy—for which at present no political agency exists to confront them, it will continue to regress and atrophy until at some point it might end.