There's plenty of valuable use cases for being able to give natural language instructions to a tool and have it act on that input. I do however agree that the current hype and valuations far exceed the real value being offered.

Like with the dot com bubble there will be a crash and then whatever shakes out of that will be the companies and products who invested in understanding the actual strengths and weaknesses of the tech, instead of just trying to slap an "AI" sticker on everything.