Just because something didn't work out doesn't mean it was a waste, and it isn't particularly clear that the the LLM boom was wasted, or that it is over, or that it isn't working. I can't figure out what people mean when they say "AGI" any more, we appear to be past that. We've got something that seems to be general and seems to be more intelligent than an average human. Apparently AGI means a sort of Einstein-Tolstoy-Jesus hybrid that can ride a unicycle and is far beyond the reach of most people I know.
Also, if anyone wants to know what a real effort to waste a trillion dollars can buy ... https://costsofwar.watson.brown.edu/