I don't immediately disagree with you but you just accidentally also described all crypto/NFT enthusiasts of a few years ago.
The two are qualitatively different.
Even now, as we have fully capable conversational models we don't really have any great immediate applications. Our efforts at making them "think" is yielding marginal returns.
I agree with you that there is significantly more there there with AI, but I agree with the parent that the hype cycles are essentially indistinguishable.
I mean, AI the tech can be spectacular and the hype can be overblown, right? I'm not even sure that the hype is overblown, but it sure feels like the kind of hype that we'll say, a few years from now, was overblown.
At any rate, I'm not saying this means that all this investment is guaranteed to pay off.
[0] With 300 million weekly active users/1 billion messages per day and #8 in visits worldwide the last few months just 2 years after release, ChatGPT is the software product with the fastest adoption ever.