Okay, I guess you're right that its ability to do this is just correlational, which doesn't imply it has any understanding. However, you have to conclude that some tasks which we used to believe required intelligence don't actually require any, which is disconcerting.
No, what I would say is the tasks which are handled in a passable manner by LLMs can be mathematically modeled with some reasonable accuracy.
Many things are predicted by models in our planet. From weather to production and material science. Building the model needs intelligence, running the model does not.
The person who came up with the formulae for CFD was intelligent. The computer running the model is not. Same for LLMs, chess engines, engine ECUs and financial prediction systems.
Again, for the example’s sake; the person who came up with an algorithm is intelligent. The model mixing its training data to emit something similar is not.