Willow quantum chip demonstrates verifiable quantum advantage on hardware

but much like AI hype quantum hype is also way over played, yeah modern asymmetric encryption will be less secure, but even after you have quantum computers that can do Shor's algorithm it might be a while before there are quantum computers affordable enough for it to be an actual threat (i.e. it's not cheaper to just buy a zero day for the target's phone or something).

But since we already have post quantum algorithms, the end state of cheap quantum computers is just a new equilibrium where people use the new algorithms and they can't be directly cracked and it's basically the same except maybe you can decrypt historical stuff but who knows if it's worth it.

I was mostly talking about state actors buying quantum computers that are just built to run that particular algorithm and using it to snoop on poorer countries who cannot afford such tech. Plus all countries will have plenty of systems that have not been quantum proofed. The moment when it becomes affordable to a state actor until most state actors have access to such tech is likely to be a long time especially since no one will admit to possess such tech. And unlike nuclear weapons, it is much harder to prove whether or not someone has one