A lot of the AI boom is like the DotCom boom of the Web era. The bubble burst and a lot of companies lost money but the technology is still very much important and relevant to us all.
AI feels a lot like that, it's here to stay, maybe not in th ways investors are touting, but for voice, image, video synthesis/processing it's an amazing tool. It also has lots of applications in biotech, targetting systems, logistics etc.
So I can see the bubble bursting and a lot of money being lost, but that is the point when actually useful applications of the technology will start becoming mainstream.
One point that stands out to me is that when you ask it for code it will give you an isolated block of code to do what you want.
In most real world use cases though you are plugging code into larger code bases with design patterns and paradigms throughout that need to be followed.
An experienced dev can take an isolated code block that does X and refactor it into something that fits in with the current code base etc, we already do this daily with Stackoverflow.
An inexperienced dev will just take the code block and try to ram it into the existing code in the easiest way possible without thinking about if the code could use existing dependencies, if its testable etc.
So anyway I don't see a problem with the tool, it's just like using Stackoverflow, but as we have seen businesses and inexperienced devs seem to think it's more than this and can do their job for them.