No, I don't personally think it's a threat at all. It's natural that people fear things they don't understand - or developments that threaten to change the paradigm they have grown used to. Humans can be pretty conservative by default! As you say, Effect is a fantastic team - and transparency and decentralisation will help keep insular political and corporate motivations OUT of AI development... and that makes things a whole lot safer and fairer for all.
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This.