I feel like we just left the era of delusions of "new paradigm" and entering the skepticism part. Of course plenty of people have always been skeptical, but not the people with enough money to cause this.

OTOH, timing can still be difficult to predict. Surely people knew tulips weren't worth more than homes, yet it took years after tulips reached that price for the peak to be reached iirc. Even if people know the crazy is irrational and cannot go on forever, there is still FOMO. The peak is likely to happen after a lot of people know the thing will have to crash eventually, but enough continue to try to eek would a little more profit while not being left holding the bag.

The peak only happens after a good majority think the crash is imminent and are ready to sell off to avoid being left with nothing. Hence why many of these companies are trying to be added to indicies quickly so that pension/retirement funds can be the one stuck with much of the losses while the billionaires just to onto their next grift.