Quick point on capitalism – the profit seeking motive is what makes the economy efficient and ultimately is what results in higher wages and living standards for everyone. We should be careful not to over-index on the direct effects of the "profit motive" such as profits to asset holders, while overlooking the far more important downstream benefits to society and workers. It's not win-lose.

But yes, it seems fairly obvious to me that if AI will effectively displaces all human economic value then the economy will not work for humans.

The only point I'll make on that is that I suspect you're worrying about the wrong thing. In a world where humans are economically worthless they're also politically powerless and entirely dependant on the decision making of the more intelligent artificial beings they've created. In this world your employment income will quickly become the least of your concerns.