Both. Two things can be true at the same time.

It’s a classical regulatory capture attempt by the major players, rather than a marketing ploy. They use safety as an excuse.

AI agents can generate and run arbitrary code. They are very capable hackers and there is virtually no way to really control what they do. They increasingly become black box systems, both to their creators and users. They know everything about everything. They gather lots of private data. And they are able to manipulate people. They have too many evil use cases.

Listen to real AI pioneers like Hinton et al. They tell you the truth.