Yes, a "select" (rather, self-selected) elite "controlling" AI according to their wishes, what could go wrong?

Clearly not a "better" scenario. The real problem though seems people feigning helplessness? You can't leave society "to its own". You are part of it and go where it goes. So better start steering.

When access to AI gives you abilities you cannot use responsibly, you shouldn't have access to that. Just like you shouldn't be allowed to drive a car or fly a plane or command a rocket without proper guardrails, safeguards, prerequisites, etc.

"General" intelligence isn't present in humans, why does it need to be in AI?