No, it’s… fine. Useful in a limited capacity. Not the machine god, but not machine Satan either. The reality is kind of boring.
This isn't even our first AI hype cycle. That happened in the late 70s-80s. Every lab and agency needed Lisp machines to teach computers how to identify Russian missiles—or targets. The "GOFAI" techniques did not live up to the expectations of them, but they settled into niches where they were tremendously useful, and life went on. The same will happen with today's matmul-as-a-service AI.
This summarizes mostly how I feel about it. It's a tool like any other tool we have advanced since the beginning of human civilization
Machine tools replaced blacksmiths
CNC machines replaced manual machines.
Robots replaced CNC machine tenders
CAD replaced draftsman (and also pushed that job onto engineers (grr))
P&P robots replaced human production lines.
The steam train replaced the horse and cart
This is a tale as old as time itself