I never really get the cryptocurrency comparison. AI has an application beyond grift. Like, even if they stopped developing it now, an AI “style hints” in the style of spellcheck and grammar rule check would be a no-brainer as a thing to add to an office suite.
The valuations are totally and completely nuts. But, LLMs have little legitimate applications in a way that cryptocurrencies never will.
Also I’m going to go ahead and say that “it’s slightly better than classical NLP for grammar check but requires 10,000x as much compute resources” is not an improvement