But then, he's purposely comparing it to the .com bubble - that bubble had some underlying merit. He could compare it to NFTs, the metaverse, the South Sea Comp

But then, he's purposely comparing it to the .com bubble - that bubble had some underlying merit. He could compare it to NFTs, the metaverse, the South Sea Company. It wouldn't make sense for him to say it's not a bubble when it's patently clear, so he picks his bubble.