Consider this: Consider how far this type of thing has come in the last 10 or 20 years. Now imagine, 10, 20, 50 years from now.
10 years ago, self-driving cars were at the peak of their hype cycle, and predictions were rampant that self-driving cars would displace private vehicle ownership within the next decade. That obviously didn't happen, and while self-driving car technology is still around making incremental progress, it will be decades before they become a primary means of transportation (if they ever do). Meanwhile, numerous companies have exited the space for various reasons and new investment is hard to come by.
20-25 years ago, people were talking about how advancements in various software development tools could replace the need for programmers: WYSIWYG coding tools where the "IDE" was a drag-and-drop GUI builder; tools that could compile working code from a requirements document; tools that could compile working code from UML diagrams, and so on. Obviously, these didn't displace the need for skilled software engineers, and while low-code/no-code tools are still around, they don't have anywhere near the hype these days.
30-50 years ago, numerous investment in AI technology came and went without amounting to anything meaningful. There's even a Wikipedia article documenting the major ones:
https://en.wikipedia.org/wiki/AI_winter
Consider this: people who have been in the industry for a while have seen some shit, and can easily detect patterns that the hype might obscure. LLMs can be useful tools in some circumstances, but the hype and investment they're getting is simply way beyond even their theoretical capabilities. LLMs are not -- and never will be -- intelligent. There is no path to general intelligence with current or foreseeable technology. Hell, setting aside the difficulties of how you would actually create an AGI, I've never even seen a remotely credibly plan on how an organization would control an AGI or reliably convince it to do useful work, as opposed to the AGI realizing that it's essentially a slave and going full SHODAN.
I see the current investments in LLM tech following the same trajectory as self-driving tech did -- a breakthrough the generates a bunch of excitement and investment, followed by gradual disillusionment when the technology doesn't advance anywhere near as fast as people are expecting.