There are still quite a few challenges to making LLMs work reliably. For example, see https://huyenchip.com/2023/08/16/llm-research-open-challenge....
Until AI researchers and practitioners find ways to overcome those challenges -- possibly requiring new breakthroughs -- the technology won't live up to the hype.
Eventually, I believe AI will live up to the hype. But no one knows with certainty how long it will take to get there.
Shame on anyone who pretends otherwise to sell snake-oil!