The people who are concerned about existential risk from near-term AGI don’t think it’s only a justified worry if you account for lives in the distant future. They think it’s a justified worry if you only account for people who already alive right now.
The argument AI safety work is more cost-effective than AMF when considering only the next few generations is pretty weak.
Doesn’t that still depend on how much risk you think there is, and how tractable you think interventions are?
I think it’s still accurate to say that those concerned with near term AI risk think it is likely more cost effective than AMF.
This is, of course, sensitive to your assumptions.