That's been the 'endgame' of technology improvements since the industrial revolution - there are many industries that mechanized, replaced nearly their entire human workforce, and were never terribly profitable. Consider farming - in developed countries, they really did replace like 98% of the workforce with machines. For every farm that did so, so did all of their competitors, and the increased productivity caused the price of their crops to fall. Cheap food for everyone, but no windfall for farmers.
If machines can easily replace all of your workers, that means other people's machines can also replace your workers.
Yeah, the overblown hype is a feature of the hype cycle. The same was true for the web - it was going to replace retail, change the way we work and live, etc. And yes, all of that has happened, but it took 30 years and COVID to make it happen.
LLMs might lead to AGI. Eventually.
Meanwhile every company that is spruiking that, and betting their business that that's going to happen before they run out of VC funding, is going to fail.
this endgame AI company are to create Intelligence equal to human, imagine you are not paying 23k workforce, that's a lot of money to be made