As the public is catching on[0], what we may get is not some insanely genius AI but a fragmented, private web where no one is stupid enough to publish original content in the open anymore (given all incentives, psychological and financial, have been destroyed) and models choking on themselves having nothing to be trained on except their own output.
This is my reasoning for giving higher probability to it being a peak (or very near it). There will be cool, actually useful instances of AI within specialized niches, which it could well transform, but otherwise everyone will go about their life normally.
[0] https://twitter.com/sonnyrossdraws/status/161000295904312116...