It is democratising from the perspective of non-programmers- they can now make their own tools.
What you say about big tech is true at same time though. I worry about what happens when China takes the lead and no longer feels the need to do open models. First hints already showing - advance access to ds4 only for Chinese hardware makers
The people taking the lead in most of Ai in America are bootlickers of fascism. So not much difference than China on a long enough time line.
They can rent their own tools, more like.