I share the same opinion. While ChatGPT might be a great showcase of LLM, its greatest achievement could be its ability to draw VCs attention and money to whatever idea as long as you stick a ".ai" domain next to it. What's more baffling to me is that quite a few software engineers (or at least few that I know and appreciate) think that generative AI somehow suggest that AGI might be just around the corner or that it'll somehow be but an iteration over existing models when I fail to see why we should assume these two problems are of a similar order of magnitude.

Well, it should attract less investment, because presumably companies that do not value caution will capture more value.