Let’s take it the other way around. If it is so dangerous and needs to be regulated, why is it not dangerous enough to be nationalised like an army? Even in this case, for countries with militia, such as US, why people are trusted to care a gun but would not be trusted to run a model. The fear that local models will soon be sufficient for most workloads is palpable. This is not regulatory capture for competition it is for devaluation of their product.
There are different economists who see things differently, like Nobel Laureates Daron Acemoglu et al, who wrote a paper titled "Building Pro-Worker AI"