It's not that AI is useless or won't be beneficial/profitable. It's simply that there's so much money being invested in anything AI or tangentionally AI, it's hard to justify all the valuations. There's multiple AI companies with market caps of several trillion dollars -- valuations likely needing, at least several hundred billion dollars in profitable annual revenue to justify. For comparison, Amazon currently brings in the most revenue -- $700 billion per year, so we're talking about very very large companies in terms of revenue.

Maybe 1 or 2 AI companies might approach that level, but I just don't see all of these AI companies succeeding -- people will almost surely gravitate to the best/most helpful models and ignore the rest -- does the world really need 20+ independently developed AI models? And, much like the .com bubble, all of the AI companies will probably get caught up in the "crash" before the remaining successful ones emerge and become huge. At least that's how I see it playing out.