Obviously I cannot claim that every ultrawealthy individual wants to eradicate the working class (some certainly do though, by their own admission). Instead, all ultrawealthy individuals do want to accumulate more resources (this is essentially by definition). In the event that productivity does increase
without human labor, there is absolutely no incentive for democratization; indeed, that would be counterproductive. The ultrawealthy, as a collective, in seeking limitless personal gain, must proceed toward this objective.
Ford built his cars after the Gilded Age, and after the government imposed a stunning set of policies that began a steady reduction in wealth inequality. Ford was a player in a market where the goals were set in a way that promoted inclusive institutions and democratization.
I was referring to the early events of the industrial revolution in Europe (predominantly England), over 200 years prior. Living standards for the majority of the labor class fell dramatically, because labor itself became less valuable. The scenario above is the extrapolation of this, and therefore much worse.
The technical term for feudalism refers to the system of government in the medieval period. I was referring to that term in an informal sense, since I am sure many know what I mean by that. As I answered to another user, I should have used the phrase "extractive institution" instead, as that is the correct term. "Serfdom" would also have been better.
But it's important to understand why that system of government was replaced. Over the last several hundred years, the majority of humans slowly clawed back power from the elites over a series of economic downturns involving war, revolutions, and then an unstable relationship with the labor class. As labor became valuable again, power shifted back to the people. Reversing that direction would undo all of that hard work. So far, that is what technology has brought.