The amount of useless slop in the app store doesn't matter. There are no new and useful apps made with AI - apps that contribute to productivity of the economy as whole. The trade and fiscal deficits are both high and growing as is corporate indebtedness - these are the true measures for economic failure and they all agree on it.
AI is a debt and energy guzzling endeavor which sucks the capital juice out of the economy in return for meager benefits.
I can't think of a reason for the present unjustified AI rush and hype other than war, but any success towards that goal is a total loss for the economy and environment - that's the relation between economics and deadly destruction in a connected world, reality is the proof.