I agree -- assuming that CEV didn't impose a majority view on a minority. My understanding of the SI's arguments (and it's only my understanding) is that they believe it will impose a majority view on a minority, but that they think that would be the right thing to do -- that if the choice were beween 3^^^3 people getting a dustspeck in the eye or one person getting tortured for fifty years, the FAI would always make a choice, and that choice would be for the torture rather than the dustspecks.

Now, this may well be, overall, the rational choice to make as far as humanity as a whole goes, but it would most definitely not be the rational choice for the person who was getting tortured to support it.

And since, as far as I can see, most people only value a very small subset of humanity who identify as belonging to the same groups as them, I strongly suspect that in the utilitarian calculations of a "friendly" AI programmed with CEV, they would end up in the getting-tortured group, rather than the avoiding-dustspecks one.