Personally, I think this is a highly pertinent cognitive bias, so pervasive as to affect nearly every aspect of modern life. I think that our most able thinkers keep quiet for fear of being wrong, whilst the stupidest and least informed in our society shout from the rooftops in blissful ignorance. I think that between the natural effect of "the more you know, the more you realise you don't know" and the pervasive anti-intellectualism in our society, we are becoming dominated by the loud and inept.
In my work as a gambler, I rejoice in this bias, as it is what pays my bills - bad gamblers can't even conceive the idea that there might be skill involved. Unfortunately, I think it is fucking up society - while professional scientists are careful to speak precisely, avoid hyperbole and only make statements that are backed by strong evidence, their opponents feel free to rant and rave, to extrapolate one anecdote into compelling evidence, even to deny the possibility of objectivity.