This is my sense too. What's kind of funny is we weirdly get caught up and excited by the hype... every single time
And for me personally, I will say every time the economy booms for a few years I start to ask: gosh is this ever going to stop?
For example with real estate, I haven't bought any because the prices always seem insane to me. But I'd be far wealthier (on paper at least) if I'd bitten the bullet and bought into the real estate market a few years ago.
Like, was Steve Jobs (turtleneck) covering something up? Zuck (t shirts)? Newsom with his Bruce Wayne hair?
Back then "nerd" seemed to have a much more negative connotation and seemed to describe people who were closer to "gross" than "quirky", like the trope of them constantly having a runny nose or sneezing everywhere due to allergies. Steve on the other hand came off as very clean and insistent on dressing nicely, even if in his own style.
I feel like Zuck was/is similarly seen as a sham for his entire robotic persona. Perhaps not as a scam, but he certainly never seemed to be all that liked by people.
I don't know anything about Newsom to comment on that one. But one other example where I was telling people it was probably a scam beforehand was Nikola. I don't recall what about his behavior did it for me, but something was just off about him in the way SBF was that just screamed deception.