Based on what I've heard from my math friends in academia, every talented undergrad who was set on going to grad school for math has switched to something like consulting internships or fintech, even if they were really passionate about math, because they don't want to spend another 7 years or so just to wind up jobless.

This has always been the risk with majoring in math. AI is making it worse but there was never a time where studying math didn't have an extremely high opportunity cost.