Yeah I can't figure it out either. It's like watching pure madness unfold in front of you and there's nothing you can do to talk sense. I sometimes wonder if they're suffering from the exact same AI overexposure psychosis we've seen in some vulnerable people all along. They've anthropomorphized (or worse - they've deified) and are now living inside of the story rather than reality. I've never seen anything so baffling in my life.
If you're willing to go back to the 13th century, Aquinas and the blindness of the mind provide a timeless explanation. They literally cannot see the truth... it's baffling until you realise this and then pity them. They’re in a mini hell of their own making where the LLM is really alive and they’re both awed and terrified of it simultaneously.
The crypto craze was a microcosm of this. The difference is there are a few good and immediate applications for improved LLMs; with crypto it was a lot quicker to burn through the hype phase, since much less of substance was made.
That, and the cryptocurrencies, NFTs, and immutable contracts weren't blowing sunshine up your hindparts.