The statement the "we could all be geniuses" gave me a chill! (I don't necessarily disagree with your point, just the idea of where it could/would lead).
Of course we can't all be geniuses. Especially through engineering. Remember Huxleys Brave New World and the engineering to make SOME of us geniuses, some of us of regular intelligence and some of us drooling morons suitable for only the most menial of labor. Way too plausible for me.
Pass the Soma, please.