The rich believe that we consume too many natural resources, that most of us are a net drain on the economy. They have straight-up said, openly, that they don't need such a large population on Earth, except perhaps to pull data out of our bodies and sell it. This is what we're seeing, too. A rise in interest, among the Elite, in Smart Cities, Smart Watches, IoB, AR/MR/XR devices that gather physiological data from their users, and brain-computer interfaces. It's also why nobody ever seems to be able to figure out why anyone ever needs this tech, or what problem it's supposed to solve. The problem it's supposed to solve is people. The problem that the "smart" tech guys are trying to solve is how to make human beings into profitable commodities by siphoning out and selling our behavioral data, while also providing us with virtual embodiment as an alternative to actually living and consuming resources in the real world.
In the future that the Overclass want for us, not only will we live in micro-apartments in 15-minute cities, we won't have any reason to leave them, since we can just put VR goggles on and be anywhere in the world rather than wasting precious energy on travel and commuting. After that, BCIs will replace the goggles. If people want to be on the opposite end of the planet, or commute to work, then they'll simply sit down, close their eyes, and find themselves at their destination. Office space will disappear, utterly disused due to the advent of BCI-driven remote work in virtual worlds. It will be replaced with more residential space, instead. The home will be the center and the focus of basically all aspects of life. Even public transportation and intercontinental air travel will disappear because no one will need to physically move their body to travel anywhere any longer.
They are unironically making the world from Ready Player One into reality.