Here is the thing nobody wants to say out loud or they are too dumb to realize. AI is intelligence, and intelligence has almost never been the binding constraint on productivity.

Exactly. We don't use the intelligence we already have! That seems to be the real problem with the "AGI" concept. Given such a capability, we'll just nerf it, gatekeep it, and/or bias it. There's no reason to think we'll actually use it to benefit humanity as a whole. It will be shaped into an instrument to enforce our prejudices.