So it's not that they cause the collapse of the economy, it's that they figure out a way to entirely take over the planet, engineering a virus or something that kills almost everyone, but only once they have enough control over robots and such to keep their own power plants running and protect them from the human stragglers, eventually getting rid of all of us. Waiting until the plan is basically fool-proof before starting to take the first steps.
Even if an AI has some sort of morality, at some point, if it's smart enough, you cannot hope to control it for the same reason a toddler cannot hope to outsmart their parents. It will have a plan for us, and if it decides that, hey, humans are better off scanned and simulated rather than having physical bodies, that's what's going to happen, like it or not.
I'm not sure how worried I am about this. Some days very, other days not as much. The risk depends on a lot of factors with wide possible ranges, like how much model capability and generalization scales with compute, how likely are breakthroughs, how hard alignment turns out to be, is alignment even possible, will we learn enough from earlier models to make alignment of later ones easier, will there be a qualitative shift in alignment difficulty as models get smarter, and so on. It's also a quandary because there is substantial human suffering that AI might be able to help. But given that the downside risk is all of humans dead forever, it seems worth slowing way the heck down to a safe speed, trying to get all the benefit out of current models as we can, and focusing on making sure that we aren't about to head off a cliff.