If you look at the technical discussion from the perspective of individuals and companies creating sophisticated autocomplete, the whole fad seems ridiculous.
I feel quite strongly that LLMs are not a fad. Something like LLMs will be useful tools to people decades from now. Especially given that a whole generation of students is now using/relying on them for course work.
Even if we want to call them sophisticated autocomplete, why would I ever switch back to a dumb autocomplete?