Who has ever believed those claims? There's a common saying "garbage in, garbage out" about what happens with all those fancy models if the data quality is not high. That's really independent from dataset-size. There's no magic insight you get because your dataset is bigger. You need a quality analyst to handle your data, irrelevant of its size.

Also, who thought their company would cease to function because surely they will hit google-scale dataset-sizes in the near future? Impossible for most except the biggest of the biggest