Hong Kong is a place where pure liberalism and capitalism showed the world how unfair a system can be. You don’t want to be old, sick and living in a cage that’s for sure. So yes, the elites will suffer, the others most likely too as the nice system they have in the mainland isn’t any more fair.
Having said that, Hong Kong was also one of the coolest, most exciting, interesting and diverse place on earth, so it really is a pity it had to end when it was given back decades ago. But to be honest I am surprised people expected anything different. It’d be like expecting Chavez’s Venezuela taking care of the European oil elite.
When you move to such a far (culturally and geographically) place, unfortunately political/social/economical shifts can happen. Some had it super good, a long time ago now. For the rest of us, like most things for our generation, it’s not what it used to be and it’s not getting any better. I’d get used to it or find a more suitable place.