My layperson opinion is that it's more panic than bubble. There will ultimately be one or two dominant players and the technology can and has changed some businesses/industries. For example accurate and FAST medical analysis for diagnostics. That could be a massive change with clear benefits to society.
But there's a LOT of throwing stuff at the wall hoping for a revelation costing tons of resources and money that will almost certainly be wasted.
We're in the figuring out stage and nobody wants to miss the hype train because the few winners will likely be the next Google.
They always said he was a real mensch…o.