100% on point. More people must remember that everything we know about large companies' operations is still completely valid. Leadership doesn't understand any of the technologies at play, even at a high level- they don't think in terms of black boxes; they think in black, amorphous miasmas of supposed function or vibes, for short. They are concerned with a few metrics going up or down every quarter. As long as the number goes up, they get paid, the dopamine hits, and everyone stays happy.
The AI miasma (mAIasma? miasmAI?) in particular is near perfect. Other technologies only held a finite amount of potential to be hyped, meaning execs had to keep looking for their next stock price bump. AI is infinitely hypeable since you can promise anything with it, and people will believe you thanks to the smoke and mirrors it procedurally pumps out today.
I have friends who have worked in plenty of large corporations and have experience/understanding of the worthlessness of executive leadership, but they don't connect that to AI investment and thus don't see the grift. It's sometimes exasperating.