They'll probably say "wow look AI is working", "must be ago!" not, "wow looks like all that irrational spending is catching up". I don't think they'll be able to justify the ridiculous valuations and spending that's taking place, even if AGI walked in and clocked in at the office tomorrow.
I say that as someone who fully believes AI and LLMs are already revolutionary, akin to the spinning jenny. The world will fundamentally look different treating cognitive work the same way we treat mechanical work. BUT the financing and ways we've strapped the economy and people's retirements to it is simply irrational.
There's no sane material evidence to show this is gonna work out. Basically all signs point to this becoming an economic time bomb just like dotcom. Dotcom is a great example because we can see all the fiber etc stuck around, got cheap, and changed the world - but all the irrational economic activity around it blew up and there is thousands of miles of insanely financed fiber on the ocean floor doing diddly squat because of it. They're just buying time on a runaway train.