But how does this work out in the long run, in the case of AGI?

If AGI becomes available, especially at the local and open-source level, shouldn't all these be democratized - meaning that the AGI can simply roll out the tooling you need.

After all, AGI is what all these companies are chasing.

Let us assume AGI never comes. I don't plan scenarios for when aliens land, why should I for AGI? It's not particularly close.