You are worrying about these big picture problems because all of your immediate needs are already met. Don’t spend so much time looking at societal issues when you have figured out how to take care of yourself first.

Reduce the population by 95%, institute a slave caste with IQ throttles to 85 MAX for hard labor and automate industrial production.

Aka, not remotely possible in the current state of affairs. You’d have to solve the “free loader problem” AND the cognitive workforce demands/lifestyle creep of the wealthiest nation on the planet.

What is this supposed to do again?