Oof, that’s exactly how it’d go. But the interesting¹ thing would be how wealth inequality would play out. Billionaires rake in income from having money. At least now, there’s a natural limit to how long that process can go on before they die. Imagine if the same small group of people could go accumulating all of the money essentially forever. What would happen when they have practically all of it?

¹ Interesting in the same sense of that curse, “May you live in interesting times.”