I am using the term value in a more personal/human sense than a purely economic one. Most of the comments replying to mine seem to be defending this behavior based on these more technical economic arguments (understandable on HN). I'm talking about the value that is created by a person creating and doing things, rather than simply finding opportunities to arbitrage for a quick buck. It's subjective so we can agree to disagree if you find the type of behavior described in the article to be valuable.