I don't really understand this description - electricity is one of the most useful things in the history of civilization. I think the latter half of what you're saying is true, but it's true of everything. There's nothing inherently useful about my car, except that it gets me places. There's nothing inherently useful about my house, except that it shelters me from the elements.
Generative AI will be useful for creating lots of things (probably primarily code in its various forms). I've used it to write a few Python scripts over the course of the last week that simply wouldn't have been possible for me to do (without a few weeks of teaching myself Python at least - I'm a somewhat-code-literate PM but very much not a programmer). Those have solved real problems for me and added real value to my life.