Yes, but ... we are on YC site and at least twice a year we hear about cool companies appearing out of the blue with crazy idea and some of them get acquired or start bringing profits.
So, the 'cool' factor will continue to have its benefits and is a good method to actually get going initially.
That goes back at least ten years. In a Doonesbury strip from about 2000, when Mike's company isn't able to make payroll, he tells his daughter everybody's working for stock options now. "Do you know what stock options are?" "Sure! They're like lottery tickets, right?" "Shh!"
So, the 'cool' factor will continue to have its benefits and is a good method to actually get going initially.