As always it’s hype vs reality. Today we’re told AGI is just around the corner. It isn’t. You’re right that a lot of tools are improving iteratively and that’s great but the hyped up valuations we’re seeing are valuing coding assistants, they’re valuing a fictional reality where AGI solves everything and the first one there gets all the rewards.
I haven't said a word about hype nor AGI, I merely said that LLM evolution in the tools available right now, not in the future has neither plateaued nor stalled.
I'm not expressing any judgement on the economics of it.