There is difference between “having an idea” and “solid theoretical foundations”. Chemists before quantum mechanics had a lots of ideas. But they didn’t have a solid theoretical foundation.
That’s a bad example. You are essentially asking researchers to predict what they will discover 50 years down the road. A more appropriate example is a person thinking he has medical expertise after reading bodybuilding and nutrition blogs on the internet, vs a person who has gone through medical school and is an MD.
I just want to point out some nuiances.
1) The divide between your so called “old CS” and “new CS” is more of a divide (or perhaps a continuum) between engineers and theorists. The former is concerned with on-the-ground systems, where quadratic time algorithms are costly and statistics is the better weapon at dealing with real world complexities. The latter is concerned with abstracted models where polynomial time is good enough and logical deduction is the only tool. These models will probably never be applied literally by engineers, but they provide human understanding of engineering problems, and because of their generality, they will last longer. The idea of a Turing machine will last centuries if not millenia, but a Pascal programmer might not find a job today and a Python programmer might not find a job in 20 years. Machine learning techniques constantly come in and out of vogue, but something like the PAC model will be here to stay for a long time. But of course at the end of the day it’s engineers who realize new inventions and technologies.
Theorists’ ideas can transform an entire engineering field, and engineering problems inspire new theories. We need both types of people (or rather, people across the spectrum from engineers to theorists).
2) With neural networks increasing in complexity, making the learning converge is no longer as simple as just running gradient descent. In particular, something like a K12 curriculum will probably emerge to guide the AGI past local optima. For example, the recent paper on neural Turing machines has already employed curriculum learning, as the authors couldn’t get good performance otherwise. So there is a nontrivial maintenance cost (in designing a curriculum) to a neural network so that it adapts to a changing environment, which will not lessen if we don’t better our understanding of it.
Of course expert systems also have maintenance costs, of a different type. But my point is that neural networks are not free lunches.
3) What caused the AI winter was that AI researchers didn’t realize how difficult it was to do what seems so natural to us—motion, language, vision, etc. They were overly optimistic because they succeeded in what were difficult to humans—chess, math, etc. I think it’s fair to say the ANNs have “swept the board” in the former category, the category of lower level functions (machine translation, machine vision, etc), but the high level stuff is still predominantly logical systems (formal verification, operations research, knowledge representation, etc). It’s unfortunate that the the neural camp and logical camp don’t interact too much, but I think it is a major objective to combine the flexibility of neural systems with the power and precision of logical systems.
Schmidhuber invented something called the speed prior that weighs an algorithm according to how fast it generates the observation, rather than how simple it is. He makes some ridiculous claims about our (physical) universe assuming the speed prior. Ostensibly one can also weigh in accuracy of approximation in there to produce another variant of prior. (But of course all of these will lose the universality enjoyed by the Occam prior)