I couldn't imagine thinking "I'm gonna do this 0.1x as fast as I could, wasting my life away with pointless extra work, to spite my employer"
Of course in reality in the short term what happens is companies lay off people to increase margins. Times will be tough for workers, and equity keeps gravitating towards those who already had it.
Those are productivity increases that got our standard of living to where it is. Fewer people doing the same amount of work has, historically speaking, freed people from their current job, allowing them to work on something else.
It's that analogy of the horse, they used to be farm animals. Now, fewer of them are 'employed' but they're much nicer jobs. I'm not sure if the same is true for us this time around though as new jobs being created have increasingly been highly skilled which means the majority can't apply.