It not that it can be used for nefarious purposes, it's that it might render a catastrophic situation vastly more likely.

There are lots of nefarious uses for AI that shouldn't be regulated specifically at the AI level. Generating an image with an intent to mislead could be done with AI, but it could also be done in Photoshop(often better). AI could make it more efficient as part of it making things more efficient in general. That sort of thing should be addressed at the level of existing laws, the bad part is not intrinsic to the AI.

That does scare me tbh.