I'm building a product right now with some AI coding (despite my negative sentiment about AI in general they are useful). I am both the product person and the engineer, and I'm pretty decent at using it, so according to the hype I should be seeing like a 10x speedup. I am not seeing that. It's definitely faster, but there are also days where I'm stuck cleaning up things after going too fast for too long, or periods where I need to put the software in front of people to get real feedback, or even periods where I just need to use it extensively myself to find the pain points and bugs. I just don't see this "running circles" once you get past an MVP and you actually need to build something secure and not embarassingly broken.
If not lower priced chinese offerings will be better as its cheaper per token - giving you more attempts to offset the variance.
My feeling on the former is no... I believe they tried really hard but they've settled on pure marketing now to attempt to fight off the chinese with perceived superiority in quality.