As a software engineer, I think it is beyond overhyped. I have seen it used once in my day job before it was banned. In that case, it hallucinated a function in a library that didn't exist outside of feature requests and based its entire solution around it. It can not replace programmers or creatives and produce consistently equal quality.

I think it's also extremely disingenuous for Large Language Models to be billed as "AI". They do not work like human cognition and are basically just plagiarism engines. They can assemble impressive stuff at a rapid speed but are incapable of completely novel "ideas" - everything that they output is built from a statistical model of existing data.

If the hallucination problem could be solved in a local dataset, I could see LLMs as a great tool for interacting with databases and documentation (for a fictional example, see: VIs in Mass Effect). As it is now, however, I feel that it's little more than an impressive parlor trick - one with a lot of future potential that is being almost completely ignored in favor of bludgeoning labor, worsening the human experience, and increasing wealth inequality.