The way I see the situation is that every single AI company can clearly see the massive wall they are speeding ever faster towards, they see it and can also see that it is a massive wall, thick and sturdy.
There is however one thing that keeps them pushing the accelerator down hard against the floor, the delusion that they alone are smart enough to find the prefect weakpoint where they can smash through to the promised land of massive promises, while everyone else is just flattened against the wall.
It is extreme narcissism combined with yes men powering this shit.