Same issue with LLMs - there probably is real value there, but investors have rammed 10 years' worth of investment into the market in 10 months.

That means: 1) Late investors end up taking a bath because it will actually take 10x longer to get a return than they thought. 2) Investment becomes inefficient - there are lot of GPUs being bought in 2025 that should have been bought in 2030. By the time 2030 comes along, those 2025 GPUs will be outdated, so the value they will provide will be less than if they had been purchased at the correct time