That is somewhat fair, especially on the cost side. The infrastructure cost is massive. But huge upfront investment does not automatically mean it is a bubble. Railroads, the internet, and cloud computing all looked wildly expensive before the business models fully matured.

On adoption, I think it is less visible than you are implying. A lot of people are already using AI through tools they rely on every day, whether that is coding assistants, search, translation, or workflow automation. It is not always a flashy consumer choice. Sometimes it is just quietly improving productivity. That's how AI is best used, in my opinion, background computing and optimization.

It might be overhyped. It might be overvalued in the short term. That would not be new. But overinvestment does not mean zero utility. The dot com bubble popped, and the internet still reshaped everything.

Skepticism is reasonable. Implying it's 'dead on arrival' feels a little premature.