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Yes, exactly this. The LLMs have done an amazing job of faking AI and it's tricked a ton of people into believing that we're nearly there, but we're still a long way off from AI. Back in the 70s everyone thought AI was just around the corner as well, and while we're much closer today, we're still not close enough everyone should be worried about it. What everyone should be worried about though is the stupid executives buying all the snake oil and firing everyone before they realize they've been conned.
This isn't a battle against AI, it's a battle against dumb executives once again trying to figure out how to fuck their employees to make even more money for themselves.