There's nothing novel about individuals being vested with the power of a nation state. Up to about 150 years ago individuals were often permitted to operate private warships (letters of marque) carrying weapons that were quite powerful for the time. They practiced a form of legalized piracy against enemy nation states, and some did so in rather murderous ways.
When we get technology for cheap 3d printing viruses, everybody will be able to destroy humanity as a weekend project.
That hadn't happened in human history, and I think it's inevitable we will get such technology in this century. And this is much scarier than swapping president for CEO.
Taking a devil's advocate approach here, the scary thing is that individuals are now vested with the power of a nation state.