But most AI researchers, including Pei Wang, do not buy the idea of AGI's that can quickly and vastly self-improve themselves to the point of getting out of control.

Well, that happening doesn't seem terribly likely. That might be what happens if civilization is daydreaming during the process - but there's probably going to be a "throttle" - and it will probably be carefully monitored - precisely in order to prevent anything untoward from happening.