Add to this that incremental improvement comes at exponentially more and more cost. So they spend ungodly amounts more in hopes that the next incremental improvement will push them over the magic line beyond where the are.

Some impressive feats but the issues holding it back from the 'replace the whole economy' sort of ambition they imagine are very stubborn. Notably it still confidently declares incorrect information (a significant volume of software developement works around by rigging auto-retries until it stumbles into 'correctness', and of course the people pumping out slop art/books aren't bound by 'correctness') and they still have no clear path to autonomous control of humanoid robotics (as crazy advanced as the online GenAI experience, they are still struggling to demonstrate even the most basic manual labor tasks).