Firstly the underlying worry here is about privacy which hinges on the fact that AI companies are stealing ideas in the first place. Stealing from your customers is an incredibly bad business model and I think if they were to steal IP (intellectual property) from researchers mathematicians or computer scientists would be first.
Now why I think biology is safer:
1) Producing novel biology still has to be done in a lab. It requires laboratories, equipment, experimental protocols, trained personnel, regulatory and safety infrastructure, and often substantial institutional organization all of which there is no indication they're heading for. Also I disagree that lab hardware is near a "soon state" where labs can be full autonomous, (liquid handlers are really good at niche tasks but lack any type of experimental general ability [not AI-bounded], especially for in vivo work where its footprint is non-existent). Even the most automated Labs I know where robots do 80% of experimental work, they still have grad students to carry out that last 20% and to oversee.
2) Even if AI could do the pipeline it's not worth it for AI LLM companies to dedicate capital to it currently. A lot of biology research itself doesn't produce a sellable product, in fact most of it never does. It seems currently and for at least the next couple years at least, AI capital is best spent growing compute to research better models, train better models, and sell inference.