The point is the companies that seem to be getting the most hype (young, 'disruptive' companies) don't seem to be doing well as IPO companies. This is an issue for the public investors (who are often pension funds, average investors, etc) and employees.
This seems to be a clear indictment of tech media, who are more interested in hyping up stories than really digging into a company's fundamentals. The only losers are common people in this scenario.