"there is no such thing as free lunch" The system will collapse regardless for us the plebs but not for elite. My understanding is that to qualify for universal income you sign all your belongings to the establishment, all debt is erased. You become a property of state in body and spirit and possibly soul. So there is price sticker attached.

Plank 1 of communist manifesto. "Abolition of private property and the application of all rent to public purpose."

This was tested before however in the past those despots didn't have technology to implement fully, this time they might succeed.

Unique to Canada is non-implementation of plank 3 "Abolition of all rights of inheritance." That's changing shortly.