I wonder about index funds as well. How much are we entrenching the top 500 companies by having everyone buying the S&P500? What kind of advantage does number 5

I wonder about index funds as well. How much are we entrenching the top 500 companies by having everyone buying the S&P500? What kind of advantage does number 500 have over 501 just by being included in the index? Companies need to be able to fail and turnover with newer and better ones but the whole economy seems pegged to the biggest ones staying at the top, deserved or otherwise. Should we ban index funds? (spontaneous question, not suggestion)