A bubble doesn't mean there's no value whatsoever, but that we've surpassed rational thought and validation. Example: we ask good developers to evaluate tools and options; not jumping in blindly to the next big thing is what makes them good in the first place. With AI, executives are literally saying if you're not all-in you have no future here. THAT is a bubble.
LLM's have applicable tech in the world today, where it's usable where software prior hasn't been able to, I don't see it going away.
Where folks are trying to apply it to replace deterministic software..? Mileage may vary.