I think this is an astute comment and a reasonably accurate interpretation of how investors might be thinking about these opportunities.

At the same time, hopefully you would agree that this "self-reinforcing cycle" that you describe, if it really is the dominant way of thinking, is also a pretty clear sign that we're well into bubble territory, divorced from fundamentals.... Investing because you think your sheer act of investing is going to create a self-fulfilling prophecy of success while simultaneously having FOMO about someone else beating you to it? I dunno if I've seen a better description of what it looks like to make investment decisions from the POV of being deep inside a reality-distorted bubble while chasing mania.