For most enterprise use cases it is indeed all they need. Why use a slow, expensive and inaccurate sledge hammer to push your very specific small nail through the wall?
It just doesn't make sense most of the times to use the slow, expensive, generic black box models that are not optimized for the specific task.
2026 will be the year of specialized SLMs...enterprises care about more IP ownership/control, lower costs, and higher quality than the slow and expensive generic models that were not optimized for their use cases.