It looks like no one actually understands what billionaires mean when they explain their fortune by using "first principles".
Most people just don't have the brain for it, we're social animals and following the smart ones is much more efficient than having everyone running in their own direction.
Basically we always have the choice of following analogies or building our own knowledge bodies. Building one's knowledge capital takes time and dedicated effort which most people do not have. Once you start building your own, you're only limited by your biology and your environment.
"Chaos isn't a pit. Chaos is a ladder."