It's not that there isn't tangible value in AI, I mean the subprime crisis is an apt comparison. Packaged tranches of subprime mortgages had value too, hell they are still traded today. They had value too, it just became a question of was what the hell was that value, and the models and assumptions made to assign the value to them evaporated pretty much overnight, because there were a lot of flaws in the assumptions. As there is here. So then all of the sudden there was no bottom to be found, and trillions of dollars evaporated in the ensuing panic.
It's kind of the same thing here, like what is the actual value of AI? It's obviously got some uses, but other uses are massively overexagerated, at least in the current conditions of it. Maybe for the foreseeable future. Maybe forever, who knows?
It's going to be one for the text books.