In many ways, it feels the same to me. Specially alarming to me is that some of my friends, who have no idea how LLMS & AI work, are seriously considering investing in it.
The barrier to entry is quite low, and getting lower. Almost all the models out there can be used cheaply via API - millions of tokens/words processed for less than a few hundred dollars (if that much). For those willing to spend the time, services like replicate, anyscale are even cheaper. Basically, anyone who can call an API & feed it data, can get into the "AI" business. And they are.