I agree with your take for the most part, however cautiously more optimistic about this. Removing the barrier of entry for most thing will lead to more people be able to contribute in professions that they otherwise would not have the know how to do.
This will lead to more good things than bad things I think, but we seemingly only focus on the bad extremes and assuming everything else is the same.
Modern Javascript has reduced the barrier of entry to software development. It has had an massive impact on the industry and with an influx of people which leads to the industry seeing more and more creative solutions, as well as some really wild ones.
Maybe I'm terribly naive, but I think we seriously underestimates how many people wants change -- just missing the push to spring into action. For some the moment is about to arrive, for others it will come later.