Sam Altman and Greg Brockman just got sued by Elon Musk, so not the best time for them.
Also, they don't have to rush it, GPT-5 would mostly be competing with GPT-4 right now, while it would have a significant cost to roll it out to the world, given the demand. Plus safety concerns wouldn't have been properly addressed.
I'd be good if they were to make GPT-4 the way it was on March 14th 2023.
I expect they release GPT-4.5 in the next couple of months. It should have a longer context, and better benchmark results, but not dramatically better than GPT-4. It will probably be just enough to reclaim the crown.
I do expect a lot more from GPT-5 though, it definitely should not be making any silly mistakes, and hallucinations should become very rare. Basically I expect it to become a lot more reliable. Hopefully by the end of the year. They raise the monthly price for ChatGPT access, but Iām ready to pay more for a significantly better model.