Of course not. But that's only the raw tech.

The tech will still be there. As much as blockchains, crypto, NFTs and such, whose bubbles have not yet burst (well, the NFT one did, it was fast).

But (Gen)AI today is much less about the tech, and much more about the illegal actions (harvesting copyrighted works) that permit it to run and the disastrous impact it has on ... everything (resources, jobs, mistaken prospectives, distorted IT markets, culture, politics) because it is not (yet) regulated to the extent it should.