I agree that it's relevant in aggregate. If you're looking to compare "total capital interest" it would probably be better to compare the total market for utilities vs tech stocks.

My only point was that comparing the valuation of a single utility company against a tech outlier doesnt really make any sense.

Except that utilities are a heavily regulated industry because they could easily hold everyone including facebook hostage and make a lot more profit that way. I don't disagree that the markets can be out of whack, but I'm not sure this is a good example of it.