The whole 'startup/scaleup' culture (which have become the industry titans of today) - is insane and have been insane for as long as it has been a thing - the culture of either 'just grow and figure out how to monetize'(Social media, food delivery etc.) or 'we're selling you this technology that doesn't exist yet but going to be insanely valuable in the future (AGI, self driving)' or 'we're selling shovels to the first 2' (cloud providers, Nvidia) has been insane.
I'd argue that compared to a decade. 15 years ago, relatively little value has been created. If you sat down in front of a 15 yo computer, or tried to solve a technical challenge with the tooling of 15-10 years ago, I don't think you'd get a significantly worse result.
Yet in this time the US has doubled its GDP, most of it owning to the top, to the tech professionals and financiers who benefited from this.
And some of this money went into assets with constrained supplies, such as housing, marking up the prices adjusted for inflation, making average people that much worse off.
While I do feel society is making progress, it's been a slow and steady march. Which in relative terms means slowing. Of I gave you $10 every week, by week 2, you'd double your wealth, by the end of the year, you almost didn't notice the increase.
Technology accumulation is the same, I'd argue it's even worse, since building on top of existing stuff has a cost proportional to the complexity for a fixed unit of gain (and features get proportionally less valuable as you implement the most important ones first).
Sorry got distracted from my main point - what happens when people stop believing that these improvements are meanigful or that technology that was priced in to produce 100x the value will come at all (and more importantly the company you're invested in will be able to caputre it)?