I almost never hear the story that I find the most believable: that a small group of people will use AI to demolish the 99.999% of us.

I really only find that story believable if we were to restrict AI development and only allow a small group of people to use it.

Also it is just plain transparent projection. I will point out only one ideology outright killed entire classes of people once they were considered 'no longer useful' and that wasn't capitalism, it was communism. And this "capitalists will kill you all if you don't rise up!" propaganda is crusty and old, back since the emergence of computers and the discipline of cybernetics in the classical sense of the word.

You never hear this story? It's all everyone is talking about in the media it seems, with "techno fascism" apparently and killer robots in bunkers and K shaped economy. In fact I almost never see the utopic take, everything is just dystopic.