There's a difference between knowing things and memorizing them, though.
I agree on the broad notion that using reference is perfectly fine at all levels of academia. You memorize information by putting it to use. Repetitive reading with no application intended just for memorization is a massive waste of time.
That is fundamentally different to attending lectures, reading books or paper and definitely not the same as putting in the work of writing your own or doing your own research.
My concern with this idea is the same as my concern with every other attempt at a "disruptive" AI product: you can already do all the valuable parts of this with existing tools and the novel things this can do aren't particularly useful or something that chatbots do well.
By all means use AI tools to do schoolworks if and when they're useful. It's just that this doesn't sound like it is.