The Internet immediately worked, which is one big difference. The dot com financial bubble has nothing to do with the functionality of the internet.
In this case, there is both a financial bubble, and a “product” that doesn’t really work, and which they can’t make any better (as he admits in this article.)
It was obvious from day 1 how useful the Internet would be. Email alone was revolutionary. We are still trying to figure out what the real uses for LLM are. There appear to be some valid use cases outside of creating spam and plagiarizing other people’s work, but it doesn’t appear to be any kind of revolutionary technology.