I think it is a typical example of where N% (N tends to zero) of the population GREATLY benefits AI models, while the next bracket (casual users) enjoy some benefit, but the vast majority would not feel any difference if they lost the tech tomorrow.

Let me rephrase that to you: The vast, vast majority of people, even in the western world, even the white-collar part of the population, are not whales or power users of AI models.

I use ChatGPT daily. And I never spend more than $25/month. If I lost it, it would suck, but it would not affect my life significantly. I then see people spending $100 / day on Claude Code tokens, programmers in startups / tech companies rack up thousands a month in bills. These people are literally spending 100x more than me, a casual user.

Yeah, I suspect they follow some sort of whale economics - where a relatively small userbase (in the big picture) and providing them with a huge chunk of their revenue.

But still these companies are being valued as if they're some omnipresent companies which humanity simply can't live without.