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The only part of that story I think you're underestimating is just how strongly people prefer to have a defined pay schedule. The reason wages would persist is labor offering itself at a steep discount to productivity.
The share of wage laborers should decline as other models offer higher average compensation, but the most risk averse workers could still end up with wage arrangements.
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I think the concept of wagie jobs is already dying and Bitcoin may well finish it off.
It's been, what 40 years? Since the concept of working at one company for 40 years has been dead.
It's only gotten shorter and shorter since, it's been almost 20 years since the term "gig-economy" started being strewn about. That is independent contracting with the process of waging. Hybrid-waging?
AI is probably another factor in moving this way, if something isn't already automated, then the "job" there is a project in automating it, projects have finite budgets with start and end-points.
https://m.stacker.news/153248
Equity fits where things have to be open ended. Equity is already what attracts talent, attracting labor isn't a far stretch at all. If that equity is ultimately priced in or yields Bitcoin, and the company is growing/profitable, comp is purchasing-power-accretive and ultimately denominated in equity as a currency with a free-floating rate against Bitcoin.
This should also accelerate the death of zombie companies through more efficient price discovery, shrinking the wage balance in the economy even further.
Reality today is waging already pays less every year, even what are considered generous raises by most standards don't keep up with inflation. Labor depreciates faster than the currency, people blame fiat when looking at wages vs house prices, but same is true of wages vs. gold since at least post-industrialization.
It's a question of standard of living for workers, if the economy provides increasing standards of living even while their pay goes down in nominal terms, that's an improvement over what's already accepted. People that can't get over the nominal framework would then accept shares at the risk of getting diluted as they do now.