Best case is hardly a bubble. I definitely think this is a new paradigm that'll lead to something, even if the current iteration won't be the final version and we've probably overinvested a slight bit.

The author thinks that the bubble is a given (and doesn’t have to spell doom), and the best case is that there isn’t anything worse in addition.

Same as the dot-com bubble. Fundamentals were wildly off for some businesses, but you can also find almost every business that failed then running successfully today. Personally I don't think sticking AI in every software is where the real value is, it's improving understanding of huge sets of data already out there. Maybe OpenAI challenges Google for search, maybe they fail, I'm still pretty sure the infrastructure is going to get used because the amount of data we collect and try to extract value from isn't going anywhere.