You are right there is a large gulf between the deep learning theory hype and the measurable improvements in physical quality of life that the hard sciences have proved themselves capable of.

However I submit a notable exception! The vision system of self driving cars is a neural network that is currently changing the world and there is no lack of explication, we know exactly how it works. These "convolutional neural network" infer object boundaries from differences in intensity among matrices of pixels by scanning different patches of the pixel matrix and cross comparing these patches.

But you are right there is a lot of hype. I think part of the issue is the collective idolization of "algorithms". The limiting factor is data. And we don't have the data required to development models that are agent like in structure. Self interested agent systems, that employ subject-object language, have only been developed once. And they needed a training dataset measured in millions of years of evolution.