I don't disagree, but there's a big difference between 'this is massively overinvested and valued and that's distorting the market around a useful product' and 'this is all basically a scam with no value to it whatsoever'. For some reason a lot of AI critics seem to be really hard pushing on the latter part despite it being by far the least credible take at this point. It might be overused, it might have some big negative externalities (though these are often overstated), it might have sucked up way more capital than it deserved, but it's also still very useful and valuable for quite a lot of people.

(to me it's a bit like criticising oil companies by claiming that oil doesn't actually produce any useful power after its refined. There's a lot to criticise about them but the fact that their product is very useful is in large part why it's so hard to do something about the rest of the problems they cause)

I agree with you, for what it's worth.