What most authors don't realize and that they often fail to grasp is that the fads are necessary. The failures are necessary. Sure it burns to be on the losing side of history, but it is important for that side to exist nonetheless. It is important to try out things nonetheless. Take the great internet fad example, Pets.com. Hindsight tells us that it's a terrible idea but we forget that people weren't excited by the fact that someone was selling pet food. They were excited that they were selling pet food through the internet and because we didn't have any reliable models of the time their reasoning told them that through scale such a thing might make a lot of money due to its reach. They were groping in the dark, but they were trying to hit upon the - at least from my perspective - vein of modern internet retail. They got it tragically and hilariously wrong, wiping out a large amount of investment, but we are all better off from this failure as an example. It helped us to hone our models. All of those failures from the unknown two people in some garage / living room to the big expensive messes like WebVan taught someone something and in general as a society we inched closer to a more refined understanding of things resulting in a better understanding of things. We now know for instance that X, Y, and Z are constraints in e-commerce and to be successful you need A, B, and C. Those things weren't readily deducible in the past, they are now apparent as a result of all of these "fads."
Is there any underlying thesis over here? I don't know, but what I do know is that maybe it is a bit unwise to be so quick to judge someone's efforts and work just because their motivations, direction, and/or the end result doesn't jive with your internal model. Just saying.