Re: King Cnut reference misleading.
"The same could be said of Luddites too"
I think it was a fairly complicated situation. It was a movement which took place in different parts of the country so that the nature of the industries varied. What was happening was that various industries were moving from a domestic to a factory system, a move facilitated and, indeed, required by new technology (the new machines were often driven by non-human power sources, initially water wheels, which required them to be aggregated around the power sources).
The owners of the new factories were, in many cases, some of the more successful domestic operators. Clearly not everyone who operated a domestic business could set up a factory - there'd have been neither the work-force nor the markets available. The end result was undoubtedly increased employment in those industries that lasted for many generations.
The protests came from those who objected to becoming factory employees and were being put out of business by the more efficient machines in the factories but who didn't make the alternative transition to becoming factory owners themselves. At least that's what I make out of the evidence I've looked at.