

Well, one can say then also that US military is a bubble, it also hogs resources far bigger for the same results that poorer nations achieve. There are some things it does that can’t be compared to others because nobody has the need or that much money, but what can be compared is not even factor 10+.
It keeps getting that funding because of the position in the world it occupies.
Or one can say that the Danish kingdom sitting on the Sound relying on custom fees for its budget and then going on adventures with mercenary troops was a bubble. That bubble was inflated and burst a few times before that happened finally (something-something Kiel canal), and for long enough periods of history that just was the reality.
It’s a relative thing if something is sustainable or not. When people are talking about Earth being expected to exist for enough time to be more afraid of global warming and microplastics and such, it means that Earth’s existence itself is usually assumed to be indefinitely sustainable in our frame of evaluation.
So what you said is true, but dotcoms also were a bubble.
There might be a more direct parallel than originally intended in this with the explanation how one person works hard all day and makes less than another person who pushes a few buttons. The latter knows which buttons to push.
This technology is useless for my movie searches, but it might be useful in the same way as radar was for air defense.
BTW, I’m not sure what I’d choose if offered to pay 500 dollars for knowing what that movie is. There’s one girl, if she’d be interested too to find that movie, perhaps I would.
So if such an expensive technology would allow this kind of nuanced search, and more seemingly efficient wouldn’t, then we have a use case.
Or a model allowing to predict actions of other people sufficiently well, based on seemingly not precise enough data. However much it would cost, that would be justified, similarly to high-frequency trading, because it would operate on all existing value, not just what it generates.
I know, I was making two points, one is that everything is relative (what you’ve just agreed to), another is that it might not at all be a bubble.