You're missing a huge part of the ecosystem, ML is so much more than just "generative AI", which seems to be the extent of your experience so far.
Weather predictions, computer vision, speech recognition, medicine research and more are already improved by various machine learning techniques, and already was before the current LLM/generative AI. Wikipedia has a list of ~50 topics where ML is already being used, in production, today ( https://en.wikipedia.org/wiki/Machine_learning#Applications ) if you're feeling curious about exploring the ecosystem more.
I'm not missing anything; I'm saying the current boom is being fueled by claims of "replacing workers", but the only class of AI being funded to do that are LLMs, and the only class of worker that might get replaced are programmers and artists.
Karpathy's video, and this thread, are not about the un-hyped ML stuff that has been employed in various disciplines since 2010 and has not been proposed as a replacement for workers.
Not yet it isn't; all I am seeing are tools to replace programmers and artists :-/
Where are the tools to take in 400 recipes and spit out all of them in a formal structure (poster upthread literally gave up on trying to get an LLM to do this). Tools that can replace the 90% of office staff who aren't programmers?
Maybe it's a successful low-code industry right now, it's not really a successful AI industry.