I can't say whether he has bought in or not, but this could be useful toward the end of curtailing some of the most damaging economic ambitions, so long as it is applied across the board without "trusted established players" somehow being given a pass.
So it could him buying it at face value, and frankly who can blame him. Trying to discern reality from hype is tricky in this scenario, especially for a politician.
However whether the scenario is substantitve or simply everyone is spending and building and planning as if it were substantive, his reaction is equally useful, as slowing our roll is important in either case.
His style of 'buy-in' wouldn't be as risky as the more pro-AI buy-in, like Trump.