I'm not making that point, but I can at least defend it partially. With revenue comes sustainability, even if only partial. That means that if valuations are out of control, it is the investors that lose. Without any revenue, everybody loses, as it was all just a fantasy to begin with.

Of course, if you have revenue but with negative gross margins, as I suspect a lot of current startups(especially delivery oriented) have, then your revenue is an illusion as well.