banking/legal/IT roles etc will be fairly worthless and will have to be relegated to doing the manual labor those with knowledge tell them to do.
People in those roles tend to be above average intellect which means they are likely to be quick learners and relatively wasted in the medium term on basic manual labour, if there is skilled labour tasks available.
I think in this scenario you'd have various phases, there would be the initial looting phase where there is enough processed foodstuffs already in homes and on shelves etc to sustain the 1% for a couple of weeks. This would double as a discovery phase where people start to understand the state of the world around them, exploring their environment and obtaining news where feasible.
You'd then have the transition phase where 'low hanging fruit' supplies dry up people start to forge alliances with others, driven either by existing relationships or potential a sort of barter economy whereby shelter/water/food is exchanged. I see this phase playing out differently for different people, some more forward-thinking ones might move into it quite early whereas others who have plentiful supplies nearby and less forward thinking may go much longer in the initial phase. I think people are likely to migrate towards large settlements (perhaps those where friends and family used to live) because they realise there will be more people there and people naturally tend to group together in times of crisis.
As resources, especially foodstuffs become more scarce I then see the emergence of tribes who may be more aggressive in their approach, with smaller or more peaceful groups being squeezed out. Some of these may seek to take control of key assets, perhaps locations where you can produce power, or farmland. Over time this could result in a 'scaled up' version of the barter economy mentioned above whereby groups controlling different assets realise the benefits from sharing.
Any attempts to re-establish some semblance of broader society I can't see working in the first couple of years but if a 'stablility' period was reached whereby there is a natural order established amongst tribes then it might be a possibility as skills improve and people adapt to the new supply chain etc.
One of the stranger things I think would be all the abandoned infrastructure slowly decaying and being pillaged because it isn't scaled for a 1% society and has nobody to operate it.