It's all theatre. OpenAI and Anthropic will most likely go bust—or, more realistically sold for parts—, and they absolutely should for stealing my (books I wrote, blog posts, etc.) and many others' intellectual property. We're reaching a point where models are becoming commodetized and I'm 100% convinced the next move will be a sort of "software layer" on top of these reasoning systems which will be the actual revolution. The model itself won't be that interesting anymore, it's all the work that goes around it that makes it worthwhile (kind of what computers and phones are today; chips are amazing, but the software is really the magic).
The only scary part is that the boomers in Congress might actually believe these nerds, but seeing how Big Tech approval ratings are grazing the levels of Big Tobacco in the 90s, I don't think we have much to worry about.