Intelligence is an insanely wide spectrum, also a continuum, it is not a binary. Intelligence has scales. Algorithms have intelligence, cells have intelligence, organs have intelligence, bodies have intelligence, and even large scale things like society have intelligence and memory.
Human intelligence in itself is extremely wide, not all humans have the same intelligence and capabilities. You're not really arguing if we can emulate "human" intelligence. If we could right now we'd already be dead as we created by far the deadliest thing to ever exist. What we are really arguing is how many pieces of what intelligence is can we put together before we get an uncontrollable problem. The entire AGI, consciousness, and exact human capability discussions are distraction from the real issues at hand.
That is enormously economically valuable, and at some point we will have created something that is extremely far out of reach in a few necessary domains, and then it's impossible to control, and game over.