How do you mean it was a myth? You remember all the domain name for sale landing pages, the faux SEO (not really) pages, the domain name marketplace sites full of massive numbers never-used domains (sometimes domains with some token SEO-ing done on them to increase the rank they could mention), the registrars who helped automate massive buying of domain names, and all the people (including people you knew personally, not made up) talking about how they were buying up domain names for their value rather than to use (and the people themselves sometimes said they were "squatting")? Are you saying something else?