I think there's a larger problem of externalities (i.e. environmental costs) not being fairly represented in transactions. AI is just the latest and biggest symptom of this. If someone has a business process which involves generating a waste product (or utilising some resource) then that's only a problem if the cost isn't being paid by that business (and ultimately reflected in the price charged for the product/service).
Obviously that's not the whole problem - the other issue is the financial resources these companies have access to. Presumably if they wanted to, instead of pushing up the worlds prices for DRAM or electricity they could have distorted pretty much any market they wanted to given the money they have. If instead of datacentres they decided to buy the world's supply of coffee then presumably people would be paying $100 for a tin of coffee beans. You could introduce all sorts of restrictions and market controls but for me a better reform would be ensuring that they didn't have hundreds of billions of dollars to spend in the first place.
Except that perhaps this time AI is the tool which is actually going to do to the office what the assembly line did to the factory.
I think this is probably right, but for the people who worked on assembly lines they (or more realistically their kids) could go find an office job to do instead. It's not clear what the kids of todays office workers are going to do for employment (if anything).