It's possible to see it that way. However, the reality is that no one is "in the position of power" as both Stallman's (and all GPL3 software) and the linux kernel itself are all useless without the the other. If Linus doesn't like it, he won't convert the kernel over to GPL3, and linux users will be using older software versions, still covered under GPL2, while Stallman and his cadre will be developing software for nothing, as the newer versions won't be run by anyone.
Incorrect, as Stallman can use the very latest GPL2 Linux kernel released by Torvalds in Stallman's GPL3 Linux version that would include the lastest GNU tools, but GPL2 Linux would have to either fork off Stallman's tools and maintain them seperately, or find another list of utilities for the O/S which is almost impossible since Linux can't even compile without Stallman's tools. Bottom line, Stallman would get to use Torvalds latest, but Torvalds wouldn't be able to use Stallman's latest.