No, the bubble is because of vibe evaluations.

That always result in a bubble.

Anytime people stop valuing things on what they're worth, and start hoarding because they expect the price to always increase, a bubble appears.

Eventually no one can afford it, and the bubble bursts. Once people realize that the price won't automatically go up forever, people start cashing out and it eventually stabilizing on what's it worth. For stock prices the company is usually bankrupt before it equalizes.

Because everyone can just invest in something different.

The people who did it with Nvidia, are just gonna do it with something else. It's a problem due to wealth inequality, too many people with too much disposal income who only care about short term returns. Their investments don't help anything but enriching each other.

And they'll keep doing it until we take that wealth out of their pockets and put it back into social circulation.