This is exactly how UBI will be. It sounds like a good plan now [like social security, medicaid, medicare, etc.] and our benevolent government will look out at it's citizens and pat themselves on the back, but it will all need to be massively subsidized by our own individual efforts.
If you're relying on someone else to provide your happiness, they'll define it for you.
You'll never be happier than an average dog. You'll have some good days and some bad days, but where you sleep and what you eat will just be something you accept. Because 'it's free' & what other viable options are there, really?