This argument is old and goes back to cyber security. Things like government backdoors are the same. It's true centralizing power in the hands of a "good" would

This argument is old and goes back to cyber security. Things like government backdoors are the same. It's true centralizing power in the hands of a "good" would theoretically be good. But the key part is the "good". I think after repeated experiences with governments and corporations, no rational person would ever assume them to be good. There are simply too many incentives to be bad.