I mean yes, it is likely there is no other probable outcome.

One of the big problems with the HN rugged individualist types is they think they'll get to have awesome unlimited power at their broke ass individual scale and that somehow people with millions or billions of dollars aren't going to use said power fully to their advantage while crushing anyone that stands in their way.

More so they think that power seeking type people and organizations will not quickly adopt this technology and spend massive amounts of money to entrench their legal position while weakening everyone else's rights.

As much as technology may free us, it seems even more probable that it will put us in the perfect cage as you say, or just completely end us all. There is no universal law that says technology cannot power scale way beyond humans ability to remain chemically stable. If we fly too close to the sun our wings will melt off.