At this point, I don't really understand the point of reductive arguments like "it's just a next-token predictor" in regards to LLMs. Even claims of "it's not useful" (not even limited to "not useful to me", just flat out "not useful"). There's always the response of comparing any argument to humans, e.g. "humans can generate bullshit too", but even aside from that, the proof is in the pudding, so to speak. AI is doing interesting things.
There's downsides like power usage and centralized control by capitalists, but IMO those are problems to solve, not reasons to pretend AI is just hype.