This is top 5. Look at the difference betwen position 1 and 5 (30% (sic!) for entry level). Ask yourself how many companies are in the SV area?
Then think where MEDIAN of those numbers is.
Looking at top 5 is like looking at best performing stocks in last year (from 5000 of ohers), and thinking "YEAH, thats what I should expect from my future investment portfolio".
The contrarian position now is to double down on a small number of stocks where the business model function as a data aggregator hence FANG. As opposed to index tracking style portfolio investing, even your Uber driver has ETF's.
Based on this, your portfolio should have only contained FAANG companies for the last 5 years.
The argument for "Your portfolio should only contain FANG companies" would be "Every single one will outperform the market by at least 2X and up to 6 X over the next 5 years".
Buying FAANG in 2020 is buying assets whose price has just gone up a lot - the very opposite of contrarian.