[muzani]

Apps were a bubble. Cloud was a bubble. WWW was a bubble. Houses were a bubble. Bubble tea was literally bubble.

Things can be beneficial and a bubble at the same time. Useful things in short supply are expensive. It's a bubble when someone buys a thing for expensive in a gamble to sell it off to someone else for more expensive. It's not a bubble when a house seller sells a house to someone who wants to live in one. It's a bubble when they're selling to a seller, who sells to another seller, and so on.

Also I think one oddity with AI is that it came in very cheap. So it's hard to make it a bubble. But I guess grifters are stockpiling the shovels without realizing that everyone has one... hence OP's question.