Extrapolation is dangerous. People tend to overestimate what's possible in a year while underestimating the possibilities next decade. So far we're mostly seeing huge investments hoping for a short term goals while we're not sure whether long term goals (like: Logic and Algorithms aka Planning and Optimization) would even benefit from more compute. Maybe, yes.
Shedding some hindsight on earlier extrapolations — The billions pored into the metaverse or self-driving didn't yield the results we expected in the period we expected.