> There is a very pervasive expectation that LLM's will continue to improve, and it seems odd to suggest otherwise. There is hundreds of billions of dollars being spent on AI training and that number is increasing each year.

It isn't odd at all. In the early 21st century there were expectations of ever, exponentially increasing processing power. This misconception partially gave us the game Crysis, which, if I'm not mistaken, was written with wildly optimistic assumptions about the growing power of computer hardware.

People are horrible at predicting the future of technology (beyond meaninglesslessly or trivially broad generalizations) and even when predictions turn out to be correct, they're often correct for the wrong reasons. If we were better at it, even in the shortest term, where such predictions should be the easiest, we'd all be megamillionaires, because we'd have seen the writing on the wall and invested in Nvidia before the AI craze reached its current fever pitch.