I'm more worried that publicly available LLMs "will be capped by the amount of training data present in the wild". But private LLMs, available only to the wealthy and powerful, will have additional, more pristine and accurate, data sources made available to them for training.

Think about the legal field. The masses tend to use Google, whereas the wealthy and powerful all use LexisNexis. Who do you think has been winning in court?

I don't think the masses are representing themselves in court... and even then, legal text is borderline obfuscation it's so poorly designed.