There are plenty of positions on the spectrum from “omnipotent God entity” and “Casio SL-300SV”. What does the current valuation of LLMaaS companies represent though?

LLMs are certainly not worthless, that’s a strawman in the same way my statement “AI will solve all of our problems” is a strawman. The question of their worth is being explored.

“AI is a black box that can solve problems”. Which problems? How consistently? At what cost? How quickly?