"Talentless hacks" is a bit too far, but it's very true that over the past decade, software development has been flooded with people who don't care about software development: people who never touched a desktop computer until university, where they only went into CS because they knew a $150k starting salary at a cushy job was waiting on the other side.

Nothing wrong with them doing this, of course. And they're very smart people. But you really can tell the difference between "software developer who takes pride in their work and wants to build something great" versus "software developer who wants to pay their bills". It's the difference between the developer who responds to a packaging problem by learning their build and dependency management system inside out to understand what's going on, versus the developer who copies and pastes from SO/ChatGPT until it works for some reason and moves on with their life.

Granted, not all software development companies deserve the former. But a tightly focused startup with 50 developers from the former category can absolutely dominate the market, at least until they get acquired, as we've seen so many times before: e.g. WhatsApp, Instagram, OpenAI.