Is it just me or is does the large US companies stock-trade-based supposed "value" is floating in outer space with little relation to people's lives in reality?

Is it just me or is does the large US companies stock-trade-based supposed "value" is floating in outer space with little relation to people's lives in reality? This SpaceX valuation is perhaps an outlier even among other multi-Trillion-USD companies, but aren't a lot of the "non-outliers" kind of in a bubble state?