There will be many scientists, myself included, that would band together to break the cartel if it forms. It's just a matter of money. It is absurd.

Any logic shows that this is really about their valuations and being tired of innovating instead of having any safety concerns. What would happen if the US did this? Chinese and EU labs would eventually win. And then either the US becomes a backwater or they have to eventually spend the money to keep up anyway. But in the meantime they will have bought themselves a few years at insane valuations.

Also, look at the stark choice they want to offer "we'll kill everyone or you give us the power to do whatever we want with the most important tech around". That's it. If we aren't in an oligarchy now, we will be if this goes through. They're going to end up stealing trillions of dollars from the rest of society.