The possibility that OpenAI, Anthropic or other companies in the space can lose their investors money does not make the technology a "con". As long as they do not try to pass their losses to the tax payers, how is this a problem? If anything, the history of tech has abundant examples of the first movers in a space not capturing the eventual economic value.

It is ridiculous to say that generative AI is a con at this point when it is by far the best way to search the internet (in spite of hallucinations).