I'm don't think I am.

The internet had a ton of legitimate and potential users too, but that didn't prevent the dot com bubble from bursting.

Not only is AI built on a shakey house of cards of stolen IP and unlicensed writing, artwork, music and other data, but there are also way too many players in the space and an amount of investment that, in my opinion, goes way beyond the reality of what AI can achieve.

Whether AI is a bubble or not has more to do with the hype economy around it than the technology itself.

ChatGPT is the kind of AI that is hyped now. Other kinds of AI (formerly statistics) have been used for decades. Oh you can learn the parameters of some function from the data? Must be AI.

Internet is important and useful, but it didn't stop the .com bubble from being a thing

E-discovery and market simulation tools have basically been using these sort of models for a long time. I think "AI" is a misnomer and more of a branding/marketing term, reserved for the latest iteration of these tools, what used to be called "AI" is given a generic term describing it's use, and the new thing becomes AI until the next significant improvements are made and it happens again.

The thing where people think these new language models are going to create a "real" artificial intelligence basically confirms this, it's almost a religious belief. The mythology around this iteration of "AI" is creating hype beyond what it's technically capable of.