It will fail. Where it has been put to the public, the public has outright refused to support it. Where it has been trialled, they've ended early in failure.

The problem will come when people realise that employment is a privilege and not a right when jobs en-masse are replaced by automation, AI and robots or at the very least, outsourced to low wage countries. Unless you can work for pennies an hour, if that, you will be replaced once the technology is mature and stable enough. If anyone thinks outlawing all those is the solution, watch as hundreds of billions in investment leaves the country for other countries that will not ban them. We all may end up becoming freelancers and business owners because at least the only person who won't be fired from their job is the boss!