I think you're confusing consumerist propaganda we are bombarded with in media designed to literally get us to purchase stuff from the ads they are displaying with real life people.
Real life people on average desire more quality time with their communities/families and to make themselves a "better person" through hobbies, learning, exercise, sports.
I find this trope of Kings/Emperors being "poorer" than most people today, to be an extremely annoying trope. This trope is purely a rhetorical device used to justify inequalities, because "look you have a cell phone and infinite McDonald's deliveries on Seamless, you're richer than a King of old!" Meanwhile you're shackled to your job, shackled to your location, shackled to your apartment/mortgage, shackled to your debt, etc.
You're assuming the bump in costs due to higher wages would by default outpace that of UBI's tax revenue. This is a ridiculous assumption.
The wage earners would be paying more taxes due to their higher wages.
The wage earners would have more spending power in our real economy, which both means more businesses earning money, and more tax revenue collected.
Is there a threshold we could hit where wage increases, increase cost to the point of outpacing tax revenues, sure. Is this even close to a default outcome. Absolutely not, and it's absurd to suggest it.
Real life people on average desire more quality time with their communities/families and to make themselves a "better person" through hobbies, learning, exercise, sports.