Is that opinion based on anything firmer than a pessimistic outlook?
Lots of people jump on any trend, it doesn't mean the hype is unjustified or that nobody is "moving the needle" with that trend. Recommendations (e-commerce, advertising, music, etc) have been pretty revolutionized by it.
As a personal anecdote, the quality of the recommendations I receive across the board has been roughly inversely proportional to the level hype around ML in the tech press and academia.
C.f. Youtube's, Amazon and Netflix (products that bet BIG on recommendations) being incapable of recommending compelling material.
ML contributes to a significant fraction of revenue at three of the world's largest companies (Amazon, Google, Facebook - largely through recommendations and ad ranking). It also drives numerous features that other tech companies build into their products to stay competitive (think FaceID on iPhone). Hard to argue that it doesn't move the needle...
Does the tech industry not count, or are you only considering industries that are typically slower moving?