It's the same today. A lot of the hyperVCfunded startups will fail, without a doubt. But the tech giants will get their money from this tech, and it will be ubiquitous in ways we can't even imagine now.
To be clear, I don't think LLMs are going to vanish, there's clearly some things they're good for, but there's also some really big differences between the AI bubble and the dotcom bubble. People are very skeptical and worried about AI, they (the general public) aren't really using it for anything more than search, there hasn't been any clear economic data indicating that it improves productivity in a meaningful way, and a killer app hasn't really emerged that isn't a free chatbot. Plus, the majority of the money is concentrated in the same 5 or 10 companies just passing it back and forth between each other before eventually handing it over to NVIDIA. Maybe I was just too young to pay attention to the dotcom bubble, but the vibe seems completely different.
The internet basically just got gradually better at all the things around it. Better graphics, faster internet, better programming languages, bigger hard drives.
But we still don't know what LLM's are. They're maybe just a feature, not a whole suite of technologies creating an ecosystem, the idea that they'll make the leap from Fancy Lisa AI Companion to colleague is fanciful. I don't think there's a direct line that shows that up and to the right automatically means superintelligence.