He links to an article stating that ChatGpt use is down 10% in June as the source for the doom and gloom, but this is orthogonal to whether usage is low. The drop likely was due to school ending for the summer.
We're talking about an app that was the fastest growing app in human history prior to Threads launching. Decreased usage numbers implies that not everyone is deriving value from it, but there are a lot of people who are, it really depends on what your job is and your personality type probably plays a role too. There's also probably a backlash because people overstated what it could do, but what it can do is still extremely useful. I think stating AI is a fad ignores all of this, and again, ignores the massive increase in AI capabilities that we're going to see over the coming years.