I think the AI hype has fueled a bubble economy, and this kind of disruption was inevitable. When it would happen was unknown, but if this is it, I welcome it. This ahs been the 90s internet bubble all over again, and as ventures flop and the market winnows out the filler, it will probably stabilize. I don't think we'll really know the true power, market value, and societal impact of AI until a decade from now.
We'll learn that market value by putting it to work maintaining our table top production tooling, maintaining our homes, vehicles, and schedules/social obligations, and etc. That's AI's peak utility, handling checklists and remembering details, repeating drudgery and unskilled labor. I await developers putting it to those mundane tasks instead of trying continually to one up each other with surprising results of weighting human arts, as LLM's and picture making does.
That is it's actual highest purpose.