Everybody is not buying index funds with roboadvisors. Passive is still far less than half of the market. It just seems that way to you because the people on the websites you visit have(smartly) all gone passive.

The combined value of all assets held by roboadvisors is still under $50 billion, whereas the combined value of the worlds Capital Markets is around 115 trillion.

Also, there was never a time when retail investors were looking at balance sheets and estimating future cash flows. Index funds fix the problems of inefficiency created by retail fools like the guy above who thinks a professional NVIDIA analyst doesn’t know about cryptomining.