it is. the whole market is overvalued. But while some parts of the market have some actual things, people want (highly educated workforce, machinery, land, supply chains...) Gamestop has nothing of this and yet is pushed to an even higher value.

Yeah, tell me the P/E ratios everywhere else in the market right now are rational from a fundamentals perspective and I'll call you either deluded or a liar.

By "fundamentals", you mean the government buying corporate bonds and money printer go "brrrr"? Seriously, we Japan now.

Over any 20 year period the market has always reflected the fundamentals. However over any few months period it has always been a popularity contest.

Note that fundamentals include things like bonds and government manipulation.

The market rallied because it accurately predicted there would be a strong economic recovery in 2021/2022.

That is not true, it hasn't accurately predicted anything. 96% of 2021 and 2022 haven't happened yet.

That's why it's called a prediction, and not a record.

The market prediction doesn't mean it's going to happen - but it's likely. If the market prediction turns out to be wrong, then there'd be a correction in price (aka, another crash).

Sure, and in order to determine if a prediction is correct or incorrect, you have to wait for the event to occur. To make the above statement true you would have to either remove the word "accurately" or wait until the end of 2022.