Yep, but the dotcom burst was still was a burst. Ex post success does not matter in that analysis, and in fact, I'm arguing that the dotcom burst was instrumental for companies like Facebook, Youtube and Google to develop as they did.

A bursting bubble doesn't instakill an entire industry. No one is suggesting that. Bursting bubbles are harmful to most market participants and often have a blast radius beyond the industry. It's great that Facebook and YouTube emerged (I suppose) but that doesn't help grandad who lost 35% of his retirement fund.