Consider this similar deduction.
"All is Mind" -The Kybalion
Now let's take the following excerpt from the Law of One (1.7)
"That which is infinite cannot be many, for many-ness is a finite concept. To have infinity you must identify or define that infinity as unity; otherwise, the term does not have any referent or meaning."
And let's say that if we want God to fit into all this, we must define God as Everything, or Unity. There.
God is defined as a Unity.
Now let's take, the phrase, I am Mind, which should follow if we start from All is Mind.
Then it should follow that I am All, or Everything / Unity.
Therefore I am God...
You may interpret this many ways, I will explain two, there are no incorrect answers here, but each meaning may be different.
This phrase "I am God" can be the peak of spiritual egotism, which many take it to be when they proclaim themselves as God. This often is assumed when there is little context...
The phrase "I am God" can also render one the most humble servant of All, with adequate context, it can be a humbling phrase if you've acknowledged Infinity, or how Everything is God and the distinction known as You/I collapses and therefore we are both also included in this All-ness of God Consciousness. We are a part of the field, given access to certain parts of the field.
I'll finish with a quote that I think comes from Leo.
"Every state of consciousness is God, but not every state of consciousness is aware that it is God."