I see as fintech overvalued, not because it's hype or a bubble, but because an already pre-existing part of society had a disproportionate amount of value extra

I see as fintech overvalued, not because it's hype or a bubble, but because an already pre-existing part of society had a disproportionate amount of value extracted from it by the financial sector in general. As these companies eat into traditional banking, even if they halve or quarter the overall market cap through disruption, it remains an obscene amount of money. Except it's more monopolized into a few dozen global tech companies who can execute than what used to be a market of tens of thousands of banks, insurance, stock brokers etc.