Of course it is bad; he is "selling" other folks AI snake-oil to get them to part with their money which might have been better spent on proper companies which make actual-products/provide-services.
The description of a "stupid" person by Carlo Cipolla (recent HN thread The Basic Laws of Human Stupidity - https://news.ycombinator.com/item?id=45829210) seems to rather fit Sam Altman.
A stupid person is a person who causes losses to another person or to a
group of persons while himself deriving no gain and even possibly incurring
losses.
The description of a "stupid" person by Carlo Cipolla (recent HN thread The Basic Laws of Human Stupidity - https://news.ycombinator.com/item?id=45829210) seems to rather fit Sam Altman.
A stupid person is a person who causes losses to another person or to a group of persons while himself deriving no gain and even possibly incurring losses.