I think this is partially a symptom of cargo culting the SV model, like you suggested, along with the much more fundamental reason that software has a very low barrier to entry. Hardware is hard, but it's really the most impactful investment to make in quantum tech at this early stage because of the spin-off applications in sensing, timing and networking.
Can you expand on that? I'm not involved in the field, but there certainly exist many low qbit machines with varying technologies around the world that can already be used for calculations. Yes, they're nowhere near big enough to be useful yet, but qbit counts in the biggest machines are multiplying every year similar to Moore's law, so that seems to be just a matter of time.
That's pretty much my take on it too, just because it's pretty limited right now there appears to be healthy growth in qbit counts which would suggest a more usable quantum computer is mostly a matter of time and further research.
It's not entirely accurate to say nobody knows how to do this. The theory of quantum error-correction has been rigorously developed since the 1990s, and experimental implementations have shown that improved fidelity is possible with known error-correction schemes. I think we'll know definitively within the next 3-5 years how hard it will be to engineer fault tolerance, and workable solutions will emerge from those findings.
After almost thirty years of development, ion traps have now reached a few ten qubits with reasonable fidelities. However, this requires shuttling the ions between trapping zones which is enormously slow (many milliseconds per gate). And scaling this to hundreds of thousands of qubits is a completely open question (none of the current techniques will work).
I'll believe it when I see it. Yes, machines exist, but so far I have not seen one single convincing application that makes it better than a classical computer. Not saying it can't be done, but for all the hype around quantum computers, so far the results are dismal. (And I used to work in a relevant field.)
2001: Shor's algorithm was demonstrated by a group at IBM, who factored 15 into 3 × 5
2012: factorization of 21 was achieved
2019: an attempt was made to factor the number 35, but the algorithm failed because of accumulating errors
Look at Uber for instance. Aside from one blip in 2018, it has never had a single year of profitability. Yet it receives year after year of VC funding and investments because surely any day now they have to turn a profit, right? All these people couldn't be wrong...right? I mean this is the revolutionary business that was a mArKeT DiSruPtOr and deregulated entire vast swaths of industries to do it, so surely their success will materialize "any day now" into profit. Afterall, its the most free-market principles-based business right?? It overthrew the tyrannical state-regulated taxi industry! It HAS to be more efficient and better! Except it isn't.
Quantum computing isn't a "cargo cult" of VC startup business models, its simply another VC startup business models like all others hunting for sustainability through venture capital funding.