Both can be true at the same time. Similar to the early days of the Internet, the dot-com bubble eventually popped, but the Internet (and dot-coms, for that matter) didn't go away.
What people are saying is that this mad race to throw cash at anything that has "AI" in it will eventually stop, and what will remain are the useful things.
What people are saying is that this mad race to throw cash at anything that has "AI" in it will eventually stop, and what will remain are the useful things.