Yes, because big market crashes don't just impact the previously inflated sectors. They hurt all the sectors. So the wipeout could easily exceed the current perceived value of AI.

Okay that at least makes sense to me.

IMO it's also clearly wrong, because I think even if you believe most of AI is hype you must see the value that a lot of people are getting from it, like the housing market example I gave.

Appreciate you explaining your perspective!