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Anything we've had before now wasn't AI. It was advanced switch statements. This is the first time to my knowledge that we have a working mesh based AI available to the public. This is not a hype bubble, it is revolutionary and will impact 80% of all jobs on the planet over the next 10 years.
This claim doesn't work simply due to the fact AI is a very vague term which nobody agrees on. The broadest and most literal (and possibly oldest) definition is simply any inorganic emulation of intelligence. This includes if statements and even purely mechanical devices. The narrowest definition is a computer with human-like intelligence, which is why some people claim LLMs are not AI.
Saying LLMs work differently from older AI approaches is fair, saying older approaches are not AI but the latest one is is questionable.