I think the opposite. It allows more people to be creative. Similar to how the DAW allowed more people to become musicians. You can produce a hit song with just a laptop now.

Now you can have people producing videos without needing a crew of people.

You never needed a crew of people to make videos. This is just outsourcing people's creativity.

The potential for harm is so much greater with video than creating an mp3. You can stoke hate and fear so easily.