True, AGI is not here yet, but displacement does not require AGI, only AI that is "good enough" for repetitive cognitive tasks. We are already seeing this in coding, design, legal review, and customer support. As for UBI, history shows that when disruptive tech collapses existing structures, new redistribution mechanisms eventually emerge, whether through taxation, social programs, or crashes that reset ownership. The cycle you describe is possible, but it reinforces the core point: once AI becomes cheaper than human labor, waves of disruption are inevitable, whether cushioned by UBI or followed by crashes and redistribution.