Well, not exactly. A malicious majority of miners could rewind the chain as they please. They could indirectly steal some funds by undoing certain transfers, but they couldn’t just directly reassign funds to themselves.
The Bitcoin mining network is somewhere around 1000 EH/s, while the (AI assisted research ahead) 34.5 million H100-equivalent GPUs globally would yield about 0.435 EH/s. They'd represent less than 0.05% of the Bitcoin network.