>Why there are so many people that still believe that AI coding is a fad?

Because there's not a single piece of evidence that this has improved the quality of the delivered software, or for that matter even the speed of features any of these companies produce, in fact if anything the opposite.

The point of software development, the hint is in the name, is to develop software, not consume tokens. If Uber was now full of 10x engineers the stock price of Uber would be up, not down on a yearly basis. Hilariously enough the only company whose stock price is up appears to be Antrophic