No, the idea is that historically-normal interest rates around the 5-10% mark won't be conducive to free VC cash being sprayed around for start-ups to wank themselves silly over "piv-iterating" endlessly over spamming complete nonsense and using headcount and office shininess as a substitute for useful and robust products.

Yes, it makes the barrier higher even for good products and helps entrench incumbents, but short of a transnational revolution, the macroeconomic system is what is it and you can only chose to find the good things in it or give up entirely.