Thee $300 supermarket bike (I have one and put over 40 miles on it weekly and it's help up fine for four years) provides access to folks who otherwise can't afford the fancy $1,500 aluminium/carbon machines. Fancy bikes are still getting made and even getting better.
Newly rich kid or VC funded startups distributes money from wealthy people to an every growing software industry. It allows people like me to work in software; something that was previously only available to elite educated people who happened to live in the correct zip code.
tl;dr: The pie has increased in size and become much more inclusive. Yes, there is a lot of low-quality pie out there. But there is also plenty of high-quality pie for those who can afford it. This is good for everyone except the very elite entrenched class.