Sort of. There’s also a big helping of intellectual arrogance, wherein the tech people think they can apply their l33t skills to biology, and get the same results (I say this as a person who has spent a non-trivial portion of my life as one of those people.)

That said, the LLM version of this is perhaps more solution-seeking-problem than past iterations. LLMs are obviously useful [1]. Scientists already use them. The labs are just desperate to find a multi-billion-dollar application outside of coding, and they’ve all decided that “drug development” is lucrative, so they're gonna apply their magic to that problem and collect profits!

[1] In the way that photocopiers are useful in drug development: as a tool. A powerful tool, but still a tool.