Pets.com failed, therefore the internet is doomed. No one will ever make a successful business out of it.

Bingo!

Elsewhere on this page I argued how this reminds me of the PC wars of the mid 90s.

We are all overreacting over a nascent industry, upset that it's increasing prices for everyone and pushing humans out of jobs. This is understandable but the conclusion is wrong. We are letting emotions drive decisions.