It's a neat tool for very specific language-related tasks.
For example, it can translate a poem so that the translation still rhymes.
Its main strength is not its ability to write, but to read. It's the first time in human history where you can pose any question to a computer in human language, and expect to get a meaningful reply.
As long as that question isn't asking for facts or knowledge.
It's also useful for "tip of my tongue" queries, where the right Google search term is exactly what you're missing.

All of its output is only usable and useful if you already know the facts about what you're asking, and can double-check for hallucinations yourself.

However, on a societal scale, it's a catastrophy on par with nuclear war.
It will consume arbitrary amounts of energy, right at the most crucial time when combatting climate change might still have been possible.
And it floods everyone's minds with disinfo, while we're at the edge of a global resurgance of fascism.