AI indeed goes far beyond "autocomplete" and other nonsense. But the question is, whether it's a good idea to just let the "market" run wild with it.
Short-term capital interests don't align with the public good. AI greatly scales capability, but without anything to restrain it, that implies those non-aligned interests overwhelming society's defenses, outright destroying it in the process.
The idea of rich people being some kind of benevolent caretakers, who independently and dependably foresee and manage the consequences of their actions in everybody's best interest, is laughably wrong already.
With AI, that reality gap will swallow whatever is left.