I expect that embodied AI is going to have far more practical applications than LLMs. And given that this is strategic tech, it's obvious that China will pour money into making it happen without worrying about short term profitability. We already saw this happen with EVs, solar, etc., I don't see any reason to expect this to be any different.
Agree that vision is long-term industrial dominance, indifferent to near-term profitability. Practically, an AI body interacting with the physical world has more obvious downstream applications.
That said, valuations of Unitree & other companies in this space says a lot about the bubble.
There's definitely initial hype here, but we kind of have to put things in perspective too. Unitree valuation sits at around 62 billion while OpenAI is at 852 billion and Anthropic at 1.8 trillion. And direct commercial application for the tech that Unitree is building is far more clear. So, it is a bubble around tech with long term potential, and the scale of the bubble isn't as insane as the LLM bubble.