The scenario where the destitute masses toil for the crazy rich few does not make economic sense in the post-industrial age we currently live in. That scenario

The scenario where the destitute masses toil for the crazy rich few does not make economic sense in the post-industrial age we currently live in. That scenario only makes sense in low-productivity societies (and that was essentially how most pre-industrial societies were structured). Why? Because it is mass consumption of goods and services by the many that allows for the massive wealth of the few on top. If not for this mass consumption, the very rich would be orders of magnitude poorer in an absolute sense (though they may be much richer than the median in a relative sense). It is only by skimming from a huge economy that allows for the very rich as we understand them today to exist. And if the mass consumption exists, that means, by definition, that the majority are not destitute.