I think he is trying to argue, that every company in between these "layers" produces some kind of value. Which is why other companies are willing to buy from th

I think he is trying to argue, that every company in between these "layers" produces some kind of value. Which is why other companies are willing to buy from them in the first place. Every industry has and always will have "snake oil" sellers, but the meaningful companies in 99% of the case produce real value to their customers.