People go all dopey eyed about "frequency space", that's a red herring. The take away should be that a problem centric coordinate system is enormously helpful.
After all, what Copernicus showed is that the mind bogglingly complicated motion of planets become a whole lot simpler if you change the coordinate system.
Ptolemaic model of epicycles were an adhoc form of Fourier analysis - decomposing periodic motions over circles over circles.
Back to frequencies, there is nothing obviously frequency like in real space Laplace transforms *. The real insight is that differentiation and integration operations become simple if the coordinates used are exponential functions because exponential functions remain (scaled) exponential when passed through such operations.
For digital signals what helps is Walsh-Hadamard basis. They are not like frequencies. They are not at all like the square wave analogue of sinusoidal waves. People call them sequency space as a well justified pun.
My suspicion is that we are in Ptolemaic state as far as GPT like models are concerned. We will eventually understand them better once we figure out what's the better coordinate system to think about their dynamics in.
* There is a connection though, through the exponential form of complex numbers, or more prosaically, when multiplying rotation matrices the angles combine additively. So angles and logarithms have a certain unity, or character.