“Internet may be just a passing fad as millions give up on it”

You are missing the point: GenAI is here to stay. When and if it will bring a positive RoI for anyone other than those in related businesses, remains to be seen.

Internet has allowed a new type of businesses to appear and prosper. Some old-style businesses got the hang of it, some did not (look at all the newspaper businesses trying to figure out how to stay funded without falling under oligarch's rule).