It didn’t vanish. The early investors got their money and the naive buyers left holding their empty bags.
This is what they call exit liquidity.

Exit liquidity refers to investors who buy assets at inflated prices, enabling earlier investors to sell at a profit.
These later investors often incur losses as asset values decline.

It is very common in crypto and in volatile tech stocks.

I like the headline:
“It’s a problem for the food companies that the customer don’t have money”

2030 is only a couple years away ;).
IMHO, $4-5k for a computer that can code as much you want is a bargain. If you have a product that will sell.
Conspiracy is right, the bubble is real and they will keep it pumping til it burst. Llms are not the second coming. They are great tools, but they are not solution for everything.
This economical milestone will be really “interesting” in the next 10 years. Interesting as the Chinese curse for wishing you interesting life.

Locally run models are available for free. My laptop can run a tiny model 1.8b, so it’s useless, and the family gaming pc could use some smaller side medium ones like 8-10b ones.
Right now the bubble is still insane, but I believe the it population will able to afford better chips in couple of years.

I believe they will catch up in no time.
But not every one will be able to pay anything for them.
I’m not paying because it is a hobby project (a huge one) and it is totally free with optional donations. That’s not much ROI.

I would say that the free tiers of those coding tools got cut back so much, that some of those slop coded stuff wouldn’t keep doing it any more.
Claude is on a 5 hr timer, and you get very few responses. Qeen Code was free for a second, that was nice.
Speaking from my own slop coded project viewpoint.