The AI field has a history of over confidence; just look up Marvin Minsky's predications in the 1950's and 1960's. This had been repeated throughout AI history - a new approach is found, it has some promising initial results, and then progress gets stuck and the approach is basically halted for decades. Machine learning and neural networks have prospered due to massive increases in computing speed and data, but I sus…
The backgrounds on millions of peoples video conferences are shifted to something fanciful every hour.
There's trillions of dollars of value created by automated software compositing images taken by capture cars, and turning that into points of interest and regular (automatic!) address updates.
Ad engines are so incredibly effective, that inside a hundred milliseconds it can hold an auction and target you with things so perfectly tailored to what it knows about you that people are ABSOLUTELY convinced that Facebook and Google are listening in on them.
And you think this is an over hyped dead end?
Who cares how neural networks really work? This is good enough to get things done today, and likely well into the near future.
I'll also point out that the lags in AI progress generally have more to do with the funding situation than the actual progress of the applications. It turns out when you kill the fountain of money that was Bell Labs, you have to wait until the fountain of money is reborn as Google. This isn't really a major difference from what we started with in the 50s, we're still using most of the same concepts, they'd almost certainly be instantly recognizable to folks if you chalk boarded it out for them.
For you to say we hit a dead end back then when we're doing effectively the same thing, but with a much larger budget and talent pool is disingenuous.