They would still live better with having much more money and a bit higher cost of goods compared to basically not having money at all. Just giving them money is naturally not enough, but it's still better than leaving people to starve, suffer, or die.

Ideally, we need to create a system that ensures that everyone has a stable footing in the world, where everyone could be secure enough economically/physically/free-time wise/psychologically/educationally, that they could participate in giving back to the society through the various type of labors that society truly needs.

We also need to make sure that the money doesn't accumulate in a way that it ends up just traded between a few powerful organizations/individuals that control society at large because that would be feudalism all over again, where the general economy either stagnate or people are severely exploited... as the few own the world that others have to pay a fortune to live in.

Basic income is a good step towards a more productive and happier society, as evidenced by the results from basic income pilots around the world:

"The experience of this Namibian project fed into the preparatory work for two basic income pilots in India in Madhya Pradesh, one of the worst performing states on socio-economic indicators. In partnership with UNICEF, researchers distributed unconditional monthly payments of an amount just above the official poverty line to over 6000 individuals over 18 months. Results – in comparison with a ‘control’ group of 6000 other individuals who received no such income – were evaluated through modified Random Control Trial (RCT) methodology via three rounds of statistical surveys and case studies. By the end of the pilots, households receiving basic income were found to have significantly lower indebtedness (14% of BI households had reduced debt compared to only 3% of ‘control’ households), higher food sufficiency (up from 50% to 82%), lower incidence of common illnesses (attributed to varied reasons, from regular medical attention to improved diets, reduced anxiety, improved sanitation facilities) and better schooling indicators. Income grants were also associated with an improvement in children’s weight-for-age, especially among young girls. Contrary to commonly held fears, cash grants were associated with an increase in labour and work, especially own-account work." ~ Amiya Sharma - Can Basic Income Work? Evidence from around the world