It is entirely about the prospect of technology serving people by freeing their time from chores to pursue luxury activities. Instead of that expectation, the reality of technological advancement that AI has given us so far has been to do those pursuits of pleasure for us, while we still have to do mundane, unfulfilling chores in our daily lives.

It's purely a tongue-in-cheek quip about our daily lives. It follows the standard formula for pretty much all one-liners jokes. Some technology- vacuum cleaners, dishwashers, laundry machines- eliminated many hours of work. Instead of advancing this kind of benefit for people, the technology took the benefit for itself.

Setup, juxtaposed by punchline.