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Here's the thing... It was a bubble because you can't wall off the entire concept of AI. This revelation was just an acceleration displaying what should've been obvious.
There are many many open models available for people to fuck around with. I have in a homelab setting, just to keep abreast of what is going on, get a general idea how it works and what its capable of.
What most normie followers of AI don't seem to understand is, whether you're doing LLM or machine learning object detection or something, you can get open software that is "good enough" and run it locally. If you have a raspberry pi you can run some of this stuff, and it will be slow, but acceptable for many use cases.
So the concept that only OpenAI would ever hold the keys and should therefore have massive valuation in perpetuity, that is just laughable. This Chinese company just highlighted that you can bruteforce train more optimized models on garbage-tier hardware.
Yes, AI arrived to stay, that is fact, also soon there will be a unified global AI (see Stargat Project) which will make obsolet all other LLM. A $500 Billon project. The only thing we can do is to use it in the most intelligent way, avoiding it will be impossible.