Also I can see how UBI is very problematic and probably actually preferable to the billionaire class when compared to heavy regulation i.e. Elizabeth Warren or higher taxes on the wealthy.

It can probably do plenty in removing political and economic power from the middle class in the long term, but I do think the alternative at this point is billionaires astroturfing the insurrection class (lol) to maintain their interests. It's a pretty bleak future if your conclusion is that free money is the only way to solve it.