LLMs hold some real utility. But that real utility is buried under a mountain of fake hype and over-promises to keep shareholder value high.
LLMs have real limitations that aren't going away any time soon - not until we move to a new technology fundamentally different and separate from them - sharing almost nothing in common. There's a lot of 'progress-washing' going on where people claim that these shortfalls will magically disappear if we throw enough data and compute at it when they clearly will not.
Pretty much. What actually exists is very impressive. But what was promised and marketed has not been delivered.