Yep, precisely. A massive wealth transfer is underway, and it will lead to a more massive wealth gap. Essentially, the middle class will vanish (as you pointed out).

And a society / economy without a healthy and vibrant middle class is neither healthy nor vibrant. It's doomed.

Let's hope we can survive the coming collapse and help our families, friends, and neighbours as best we can. Maybe we can do so thru "Hopeful Projects" of various types.

Cheers.