Everyone is missing the obvious reason GPT-5 doesn't feel like a huge leap: AI progress doesn't feel exponential anymore, but it's still moving just as fast as ever. From GPT-3 to GPT-4, we saw almost no significant model releases in between, so GPT-4 felt revolutionary when it dropped. But after GPT-4, we've seen dozens, possibly hundreds, of incremental improvements from OpenAI, Anthropic, Google, Meta, and others. By the time GPT-5 arrived, we'd already experienced a lot of its "magic" in smaller doses. However, if you directly compare GPT-4 at launch to GPT-5 today, the jump in capabilities is just as dramatic as GPT-3 to GPT-4 was... we've just gotten used to incremental updates. Things aren't slowing down.