It’s only 'vaporware' if you think "AI" is just a chatbot. Apple has been shipping dedicated "AI" hardware since the A11 chip in 2017. The Neural Engine inside an iPhone runs massive machine learning pipelines completely in the background. It handles on-device Live Text OCR, face and object recognition in your photo library, deciding when to charge and how much to charge batteries, computational photography processing at a fraction of the power a CPU would use, and much more. Apple Intelligence does have live features too (albeit in a much more limited and delayed state than originally announced); those same local cores are handling generative text editing and image manipulation. It’s hard to call something vaporware when it has been running on iPhones for years.
Edit: I'm not defending Apple Intelligence or its rollout. I'm simply clarifying that Apple has been running "AI" on our iPhones and Macs for a long time. Focusing only on one particular type of "AI" is not acknowledging the forest because there are some trees missing.
2nd edit: as an example, FaceID is "AI" as well. It's a convolutional neural network (CNN). Even TouchID uses machine learning ("AI"), and that's been around for years.