Earlier quoted context omitted.
It's just filled to the brim with relations between things. It's good at searching a very large meaning space and create correlations. What it does is to cover great distances and find related things in that large space which needs a long time and large corpus of knowledge to find the connection. This is not intelligence. It's just a good correlation engine with a very big albeit lossy database of things.
The very fact that it is able to search within a meaning-space demonstrates that it understands semantics, to some extent. Philosophically, that is profound, for something that is just one big matrix multiplication. Drawing connections between things in meaning-space is surely a facet of intelligence.
As my AI professor said in the first lecture: “All AI is advanced search”.