In the dot-com situation earnings "didn't matter" as long as there was growth. We[1] all believed profit would come eventually. The lesson learned from that experience was that earning do sort of matter. It turns out there is a limit to selling dollars for dimes. Since then revenue, profit and unit-economics ("fundamentals") have gotten almost as much attention as they deserve.
[1] a broad and poorly defined group of "we" - typically investors and tech-bro types.
Earnings did come, and the outcome of the internet include Google, Amazon, and others -- several of the ten biggest companies in the world.
In 2000, there was no sane way to predict who the success stories versus failures would be, timeliness, or otherwise.
AI will be a big change. We don't know how big, when, or who the losers and winners will be yet. Everything could be grossly overvalued or undervalued. We'll only know in hindsight.
There is no shot that current AI tech comes even close to being as influential as the Internet. What we have right now is useless for getting anything productive done because it's so unreliable.
[1] a broad and poorly defined group of "we" - typically investors and tech-bro types.