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We hate AI because it's everything we hate
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This is a most excellent place for technology news and articles.
As with almost all technology, AI tech is evolving into different architectures that aren't wasteful at all. There are now powerful models we can run that don't even require a GPU, which is where most of that power was needed.
The one wrong thing with your take is the lack of vision as to how technology changes and evolves over time. We had computers the size of rooms to run processes that our mobile phones can now run hundreds of times more efficiently and powerfully.
Your other points are valid, people don't realize how AI will change the world. They don't realize how soon people will stop thinking for themselves in a lot of ways. We already see how critical thinking drops with lots of AI usage, and big tech is only thinking of how to replace their staff with it and keep consumers engaged with it.