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I'm not sure we should call it "fantastic"

The negative downsides begin at "dystopia worse than 1984 ever imagined" and get worse from there

That dystopia is far more likely in a world where the moat is so large that a single company can control all the llms.
That dystopia will come from an autocratic one party government with deeply entrenched interests in the tech oligarchy, not from really slick AI models.
The way it is going, we are all going be busy with WW3 soon so we won’t have much time to worry about that.
Somehow I think we're heading straight for WW4 this time.