Yes, exactly.

So if we had a game where 1 million people flipped a coin 10 times coins, we'd expect nearly 1,000 to get heads on every flip.

which is absurdly high of a percentage to have people think they are skilled when they are lucky.

if there are 10 million robinhood "traders" doing their tenth big trade today, then 9,765 of them could make a fortune by luck and think they are geniuses.

So 1 in every thousand retail investors succeeds 10 times in a row. A lot more than a thousand retail investors out there.