Of course if you only go back as far as 2022 it’s massive right now. Consider dotcom bubble burst or 2008 and it’s actually still not as bad (although I believe it will soon become so).

There’s value but it is not rewarded commensurately with the contribution. Same for doing peer review.

It harms lives? How so?

Many mathematicians I know are shaken or depressed by these news of machiines that might put them out of business. Especially those who don't have tenure yet.