That this would happen is evident to everybody with a minimum knowledge of economics. It’s the same reason UBI won’t work because it would make prices skyrocket.
One could also pay out ubi universally, but have a one time down-adjustment of salaries the first year.
But if we overall had capacity to tame in the added UBI, then no. Unlike targeted subsidies like EVs, UBI is do much better. Each industry is still competing with other industries