There was a certain inevitability that Elon Musk’s latest adventure would disappoint.

Overhyped? Undoubtedly. Overpriced? Absolutely.

That it has taken just a month for its shares to descend below its float price doesn’t augur well for the company or the future of the AI boom.

It is a boom that has sent Wall Street and lesser-known markets like South Korea’s KOSPI to dizzying heights, fattening up Australian super funds along the way.

It also serves as a stinging rebuke to the army of investment banks and their analysts who promoted the company’s prospects and bought into Musk’s bizarre vision of the future.

And then there are the market operators at New York’s Nasdaq, who rewrote the listing rules just to accommodate the world’s first…