I think of it more as "dancing bear ware". If you've ever seen a dancing bear, you wouldn't say it's particularly good at dancing. You may even say it's hardly dancing at all. But we don't care that it dances well; it's amazing that it dances at all.
Current AI is a dancing bear. It gives us the feeling of understanding language, semantics, logic and reason, but when you look closely, you realize it's doing a very poor job of it in a way that suggests it is just mimicking those things without actually being capable of them.
But as opposed to a dancing bear, we expect AI to get better and better at dancing in the next decades.
The speculation is important, it both changes the perspective for prospective companies/investors, and cannot even be said at this point to be unfounded.
Current AI is a dancing bear. It gives us the feeling of understanding language, semantics, logic and reason, but when you look closely, you realize it's doing a very poor job of it in a way that suggests it is just mimicking those things without actually being capable of them.