Ok, here's the argument, as best I can tell:

A coordinated slowdown is anticompetitive because it allows them to reduce their R&D spending without risking their market share, letting them pocket more of the profits.

Each AI company is currently spending $100B+ on R&D every year to beat each other's latest model. By agreeing to slow down model releases, they will be able to cut this spending, allowing them to make bucketloads of money from the models they already have.

The consumer is harmed because they miss out on better models that would have been developed in a properly competitive market.

However, the Trump administration shot down this idea, with the president himself saying, “AI taking over the World, destroying Humanity, and all other things bad, is a HOAX.”

Wise words as always Mr President.

What?

This is the way the justice system should work.

Now please, go after every FAANG company.