That very much depends on if you believed all the hype or not. If you did, then yes, it’s failing, as ChatGPT was supposed to be the next big breakthrough that was going to automate everything ever, and any company that didn’t get in on that right now was going to be left in the dust by all their competitors. On the other hand, if you were an actual sane person (so you know, not a CTO/CEO), then this is very much a non-story as you always knew that all those outlandish claims were nonsense and that this was always going to be yet another niche piece of tech that’s useful in a few places in limited amounts.