A bubble is "a good or fortunate situation that is isolated from reality or unlikely to last". What's good about it, profit for those who are profiting. Why's it isolated from reality, all three of those reasons. Why's it unlikely to last, reality is inexorable, no amount of ignoring it will cause it to change.
One bubble, at least three reasons why it's bubbling. Probably we could identify a bunch more, like nerd fantasy. One of the consequences of techbros being in a position to decide what society does with itself is that they will send us on tech-related wild goose chases.
The goal of making ourselves obsolete is typically self-defeating when we can't even agree to let humans have free time when they don't need to be working.