To balm the enraged; look, I agree with you, the hype is indeed out of control. But like, let the vultures spend all their monies. Eventually the bubble itself will go the way of NFTs and we'll all be able to buy GPUs and SSDs again. Hopefully.
That said, there's an important chunk of discourse that gets shouted down and it really shouldn't. For just a moment, table the issues that come out of "AI as an Everything Replacement" and think of the new things that come out of this tech. On-demand tutors that never tire. Actually viable replacement for search. Large heterogenous datasets can now be rapidly parsed, by an individual, for specific insights. Personal dev teams at a fraction of the cost that now make it possible for people with absolutely bugfuck ideas to actually try them without worrying about wasted time or resources - we are going to see a vibrance in the world that was not there before.
It is not an unqualified or unmitigated good. Hell, I'll even grant that it may be a net negative - but I don't know either way, and I don't think anyone else does either. Not with any significant confidence. It just feels like we've skipped the part of the discussion where discourse occurs and gone right to "Pro" and "Anti" camps with knives at throats and flushed, sweaty faces.