I get it - LLMs do have some value, but not as much as everyone (especially those from AI labs) is trying to pitch. I can't help thinking that it's so obvious we are almost at the very top of this bubble - but here it feels like the majority of HN doesn't think like that...
Yet just in 2026 we had:
- AI.com was sold for $70M - Crypto.com founder bought it to launch yet another "personal AI agent" platform, which promptly crashed during its Super Bowl ad debut.
- MoltBook-mania - a Reddit clone where AI bots talk to each other, flooded with crypto scams and "AI consciousness" posts. 250,000+ bot posts burning compute for what actual value? [0]
- OpenClaw - a "super open-source AI agent" that is a security nightmare.
- GPT-5.3-Codex and Opus 2.6 were released. Reviewers note they're struggling to find tasks the previous versions couldn't handle. The improvements are incremental at best.
I understand there are legitimate use cases for LLMs, but the hype-to-utility ratio seems completely out of whack.
Am I not seeing something?
[0] https://www.technologyreview.com/2026/02/06/1132448/moltbook-was-peak-ai-theater/
But I also don’t think the signal is zero. It’s just buried under capital and compute flexing.
The pattern I see isn’t AI is revolutionary. It’s: 1) The easy wins are done. 2) The marginal gains are getting expensive. 3) The distribution layer is shifting faster than the capability layer.
Most new model releases aren’t unlocking fundamentally new workflows. They’re compressing friction in workflows that already work. That’s useful, but not narrative-worthy.
The real shift isn’t GPT-5.3 vs GPT-5.2.
It’s: - AI replacing search as the interface layer. - AI compressing junior-level execution work. - AI reshaping how products are discovered (AI Overviews, summaries, agents).
That doesn’t make MoltBook any less absurd. Burning compute on bots talking to bots is peak theater.
But dismissing everything because of the theater might be like dismissing the internet because of Pets.com.
We may be at peak hype, but that doesn’t mean the substrate shift isn’t real.
The question isn’t, is AI overhyped? It’s, where is durable value forming?
That’s harder, and way less viral, to answer.
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