GM rice would also make sustenance farmers dependent on handouts, since they're not allowed to keep and re-plant seeds, but compelled to buy new seeds from the rights holders every season.
The free license for golden rice allows saving and replanting seed - thankfully big biotech wasn't quite that obviously evil in their big positive PR for GMOs act. The caveats are that doesn't cover imports and exports (all consumption must be within the country that grows it), and it only covers subsistence farmers and low-income food-deficit countries according to the FAO. As a general rule, food-deficit countries aren't going to be able to grow enough rice to supply the country because the definition literally requires they can't grow enough calories of food to feed their population. I'm not sure what hapens when a country loses its LIFD status or a farmer has a good year and makes over the threshold to grow it in other countries, but I presume it's not good for anyone except the company owning the patent rights.
Then the problem to solve is the rights & IP. If farmers are allowed to re-plant seeds and future financial liabilities are removed, then GM becomes a great way of solving a lot of problems.
Perhaps GM technology for farming should be considered a large scale problem best solved by public entities, with developments being open source & public domain.