GPT-5 being bad because of a model router does not justify market sell off. Scaling still works. The bitter lesson is still correct.

Investors are stupid. Recall their reaction to Deepseek V3 and how much of a nothing burger it ended up being. Recall that it took the market weeks to realize that "5.5 million" training cost was the literaly final run at the end, and didn't account for the 300 million+ spent to get there.

Investors don't understand AI.

>Investors don't understand AI.

Investors have a deep understanding of their desire to make money.

AI, thus far, has proved itself to be very bad at making them money.

Scaling "still works" for increasingly smaller improvements for increasing higher infrastructure costs.

As it was obvious from the start, transformers are not the path to AGI, if there's one.