Capitalism has meant efficiency, but it is only efficient in producing profit. For quality of life it is definitely not efficient, rather very sub maximizing and worse, killing the client society that hosts it. It definitely did not deliver on the post WW2 promise of enhancing the lives of almost everyone, and Keynes’ view that we could distribute the technology of work and free up most for increased leisure and life, free from wage incarceration, did not happen ( Did the economists notice?). But the political process controlled by wealth co-opted all savings to the owners leaving them with the riches and the workers with the work.
Now it gets worse, because the workers will be neither needed nor paid. Time for new choreography.