Very well said. We think of a word as "just" a word, a simple, primarily textual thing, but it's actually a vertex on an extremely large and complex many-dimensional graph that includes connections related to meaning, logic/reasoning, knowledge about reality, emotional sentiment, and so on. The literal textual representation of the word--the letters it consists of--are just one property among many, and probably one of the least important to producing sensible output. GPT is discovering the shape of this super-graph and learning to navigate its connections.