Existing (and affordable) offerings are so good that they can cope with shitty recordings off a phone speaker and maintain ~97% accuracy over hour-long conversations. I'm sure it's been an absolute godsend for law enforcement other people who need to gather poor-quality audio at scale, though much less great for the targets of repressive authority.

Having this fully open is a big deal though - now that level of transcription ability can be wrapped as an audio plugin and just used wherever. Given the parallel advances in resynthesis and understanding idiomatic speech, in a year or two I probably won't need to cut out all those uuh like um y'know by hand ever again, and every recording can be given an noise reduction bath and come out sounding like it was recorded in a room full of soft furniture.