If it pops it takes the whole stock market with it and no one is retiring, probably ever again. Same with home ownership, it will exacerbate every problem we're currently facing.

But if it actually works...

Corporations will fire virtually all their employees, what few jobs remain will see their wages crumble because there's so much compeyfor such few jobs. Just instead of all of us being fucked, only 99.9999999999% of us will be fucked and a very few people will have successfully hoarded the wealth of an entire planet.

What else are we going to do? Stop spending hundreds of billions a year on a pipedream?

Then what? Spend it on education, housing, Medicare, and a functional society where everyone fundamentally has enough to lose that crime basically elimates itself?

Ironically enough it all comes down to the message from that Movie where Ferris Beuller played an AI at video games:

A STRANGE GAME. THE ONLY WINNING MOVE IS NOT TO PLAY