Ed Zitron already completely defeated the comparison that this is just another dot com boom/bust with eventual payout. You're telling yourself a just-so story.

> Ed Zitron already completely defeated the comparison that this is just another dot com boom/bust with eventual payout

"This time it's different" is a story told by people at both extremes.

"There is unsustainable excess and malinvestment but it's not going to be the end of the world and there will be some really important and successful things that are left standing alongside some carnage" is a narrative that doesn't appeal to the masses for a variety of reasons. And people like Zitron, who profit by selling narratives, often avoid narratives that require nuance and balance because it forces them to produce more complex and detailed, and less bombastic, analyses.