Dot com is a bubble because some just host a website and got massive fund, same as crypto some just a random similar coin to eth they got massive fund. But Ai now can replace jobs, need massive fund to train so not much similar startup copying and startup barrier is high, also few free money going around at the same time due to interest rate. I think this might just be different.
The Ai iteration rate is fast, we cant just assume ai intelligence wont improve. Gpt4 recently have intelligent decrease due to more ruleset as they call the safety tax. But they also said gpt5 could possibly be 100 time bigger.