Right now AI is being driven by a particular cohort who have spent a long time fantasizing about a sci-fi future and ideas like the Singularity. Then with recent breakthroughs, they were suddenly given an enormous amount of wealth and power with staggering upside, the effect of which historically, tends towards moral bankruptcy in most individual, or at least massive cognitive dissonance. This became very apparent in the outward communication targeted at CEOs and shareholders that made the entire white-collar workforce scared for their jobs and created the first truly bi-partisan enemy the country has seen since 9/11.
My take is these guys do not understand what people want in aggregate, and are massively underestimating the political and supply chain dependencies they have to actually realize their sci fi visions. As long as the valuations are this high though, the musical chairs must continue, whether they are true believers or not.