It's a good point, I would just say, most internet companies failed that had began during the dotcom bubble. A few made it out of that bubble, like Amazon and kinda Yahoo (thought Yahoo is worthless). Most of the successes on the internet today didn't start in the dotcom bubble. Google did exist back then, but it didn't become a company until years later.
I think this is a fair analogy for the present market. The technology will succeed, but many projects fail.