just printing money never works. You picture about capitalism vs communism is actually still too nice. In communism the average people do not have as much in capitalism, but significantly less.
Still UBI should be at least better than full communism. People are still allowed to keep their productivity and if you are smart you can invest that to shield yourself from inflation. The big question in UBI is how do you finance it. If you finance it by progressively taxing the rich it is essentially communism. But if you fund it by printing fake money, it might do a little better than ordinary communism.
But there are also other ideas, such as the right to homestead. This is equivalent to a sort of UBI, granting everyone land that they may work to be productive, thus creating an income for everyone.