This is my guess too.
Right now everyone is addicted to subsidized compute. Companies are giving away massive amounts of inference and giving away their agents for free.
Here's my prediction:
When the magic version of RSI does not happen, the musical chairs stop for this cycle.
What do I mean by the magic version of RSI?
I mean there is no free lunch, you can't violate the laws of physics, most knowledge is not verifiable, and the subject/object problem of "how do I know I improved when I am the judge judging whether I improved?" All of that comes back to bite you and get a lot of useful improvement but not improvement everywhere across the board in every domain to infinity that makes it go FOOM and it becomes a hidden S curve like everything else in life.
Then we end up with super useful but not magical intelligent machines, nothing like what grifters and psychotics and dreamers predicted (all jobs annihilated, utopia/dystopia, a bunch of people dying (except in the way they always do, with machines of war that use the new tech in dark ways, like all tech before it, and which already exists and is already killing people in the Ukraine war and because governments won't be stopped making weapons of war by any law proposed or on the books).
So where does that leave us?
What we will end with is a very amazing, very useful, very revolutionary new world that changes fast at times and slow in others, but with AI that is flawed, spiky, imperfect and just normal-ish, as in normal like other revolutionary technological changes like the steam engine or the printing press or the Internet, meaning groundbreaking and wonderful and awful all at the same time but not the end of all things or the start of Utopia.