I think it should be obvious how automation reduces cost of living but if it isn't then let me know and I will explain.
Physical automation, like the historical example of the loom and the printing press and movable type and the linograph were one dimension of labor.
Intellectual and creative automation is a whole new dimension of labor.
Robot designer?
GPT3 will be designing the robots.
Robot repair tech?
With no incentive to engineer obsolescence, modular designs and ultra low production costs will make repairs as easy as swapping a module.
It won't matter if you have an "advanced degree in engineering" or you're a highschool drop out, you're equally qualified for the job.
A truly equal playing field.