I had a web development company in the 1990s and actually built websites for paying customers, including huge corporations. Meanwhile, nobodies with no business plans or much of anything scored millions in venture capital and started companies with hundreds of employees overnight. They were floating in money. True, these companies failed but the people who invented them made a ton of unearned money.
Competence has never been valued. We live in a world that honors swindlers. That said, I don't give a crap about any of them. I take care of what I do.