I would love to see Finland do this and see how well it works. It's a model I, as a libertarian who attempts to be pragmatic, have considered as a preferable option to the ridiculous state of US welfare we have now.
It's fairly and evenly applied, nobody can claim that it's only for the "lazy" because everyone gets it.
And it could definitely serve to eliminate minimum wage, possibly making some US industries more competitive worldwide. The minimum income BECOMES the minimum wage, anything over that is gravy. If a company can find someone who wants to work for $1, more power to both of them. My guess would be that most people, given that their most basic needs are met without work, would insist on a lot more than that. The incremental value of $1/hr is pretty minimal. But some people might choose to volunteer their time for a good cause while still getting a basic income.