I agree with you that we can't allow a handful of people to hold this power themselves, so what are you arguing for here? That the answer is to just leave AI labs to carry on as they are?
The government should be ensuring that the technology is being developed with caution, but since the government seems to have no interest in that, this is at least better than nothing.
Your solution of giving everyone access to super intelligence is absurd. A good guy with super intelligence isn't going to protect you from the bad guy with super intelligence. If someone uses it to poison your water supply with a bioweapon or to take out power stations, you and your family will be dead long before your super intelligence hacks together plan to stop it.