I used to think this, but the AI labs sure seem neck-and-neck in the model race. Doesn't appear that anyone is developing an enormous lead. So I've become skeptical of the runaway king-of-the-world-maker model scenario.
The open models seeming to be ~6 months behind is very encouraging, too.
AI progress can potentially be extremely non-linear because of feedback effects. The first to build an AI smart enough to accelerate building even smarter AIs wins (or loses along with everybody else if it's more successful than they expected).