I think its twofold.
On the one hand, people don't like the CEO types that are present everywhere, hyping up anything and who always must give their five cents. The likes of Musk and Sam Altman. I include myself in this group, I for example hate how people literally still buy into the Elon Musk is our world's iron man narrative.
On the other hand, if it's about companies, I think the issue is more complex.
Partially it might be jealousy of Silicon Valley (I know MS is not based there) and their working environment and salaries.
But it is also criticism of the tech bubble. Developers outside of that small region are no idiots either...and sometimes they get tired of the vibes being sent out by all the SV hype people...like anything there is great and will change the world and anything not from there is unimportant and dull.
I think yes, there are some world-changing things happening in the valley and also in those companies, but a big chunk of the rest is just overabundance of capital that people just need to park somewhere so they throw it at idiotic startup ideas.
This capital was generated by reaping in profits (Meta, Google) from all over the world by avoiding taxes through questionable corporate constructs.
See google, they make money by selling ads. They only can do that because of the population in their target country and how much those people can spend. This again depends on domestic investments like infrastructure and education, payed for by taxes that google don't contribute to.
This is at least my source of scrutiny when looking at all those players.
But to be fair, I don't hate (all of) them.