On the contrary, AI has sucked all the air out of the room. There are still a hundred thousand normal consumer apps waiting to be built, but nobody's building (or funding) them anymore, they're all off chasing this new thing.

Won't Anthropic or whoever wins just press a button and create the app though?

This reminds me of the early 1980s when synthesizer music became popular. People back then were saying things along the lines of "anyone can make music now, you just press a button and you have a no. 1 hit". But the reality is that, just having a synthesizer doesn't make you musician but a synthesizer in the hands of a musician can make a big difference.