It's kind of like at the beginning of the COVID-19 pandemic when some in the US were saying that the US government should just forgive mortgage payments so the landlords could forgive everyone's rent. Instead the US government gave businesses loans so they could pay their employees (even though they weren't able to work) so those employees could then pay their rent and buy food, etc. It was (perceived to be) better to inject the money into the system to keep the current system running, rather than turn off / forgive the major parts of the system.

Under the K-shaped economy it's been reported extensively already that the consumption market share of the public is trending downwards with no side of stopping. The consumption numbers can be kept up entirely off a market adjustment for less food and water and more yachts.

Post-scarcity requires a political choice. Everybody with political power, regardless of affiliation or nation, stands to benefit from reducing the political power of others who may stand to make demands. The economically surplus humans can't make those demands upon the powerful if they aren't around.