Yes, and one day the replicators will be able to replicate themselves... so the tech will be so cheap it will almost be free.
It will be the very creative who will become the superstars in the world of 2050. They will create new tasks for the automated machinery to carry out. They will create everything from new entertainment to new vehicles.. and every other thing that will be possible.
Automation is an amplifier for the human mind and body. What now takes a million workers to do, a single person will be able to have done for him. A single person could create a city or dig a canal or whatever.
Everything will quickly trend toward zero cost in a fully automated world. The only real limits are raw materials and energy.
I think you're right, and that's another data point to confirm what I have long supposed: that very soon, the powers that be will take steps to massively reduce the human population. Perhaps from billions down to only several hundred thousand, as the Book of Revelation seems to suggest.
In the wake of WW2 in the Pacific, the saying was that it took the Americans and the Chinese about the same amount of time to construct an airfield. Six Americans. Six hundred Chinese.