I've been an AI researcher for 12 years. Generative AI also has many applications that tangibly improve the world. For example, I'm using diffusion models for super resolution of surface wind fields to forecast wildfire propagation. It's not "just" generative AI that's the problem. The exact same transformers or CNNs used for Capital to try to finally triumph over Labor can also be used to do all kinds of amazing things.

My point is that the incentive structure is fucked. It's just more apparent with a powerful and widely known technology like "AI" these days.