Yes, as a side effect of the excess urbanization in response to the initial expansive industrialization. In an ideal world, such people would always have the option to move to the countryside and seek for new opportunities („back to the roots“). In our broken world, these people get trapped in a socioeconomic limbo because there’s no more land or because the government penalizes such moves to maintain a certain level of poverty in cities which it can refer to during elections.
Discussion
Business also cluster in cities, so people are forced to live near them, in a sort of urban feudalism, like what used to appear around castles.
I would consider it a natural development rather then modern feudalism. Urbanization is not bad per se. What‘s bad is the broken balance b/w the progressive minority in cities generating the income for all and creating jobs and the conservative majority preserving the identity and culture.
However, with increasing automation and AI applications, even this natural society model will end sooner or later. The question is what will be the trigger. A strong AI? Thermonuclear synthesis? A global economic collapse? I guess all of that.