It's rather that founders with a proper vision build companies regardless of market swings. During a boom cycle there's abundant founding, even for trash projects. Markets aren't as efficient as many assume, especially not in the short term. Now we're at the end of a boom cycle and everything gets battered but that's just the valuation changing, nothing else. It's speculation. In the public eye quality projects will emerge again a couple of years down the line when they're starting to get really big and no one except those actually interested in the tech will have paid attention to how they were working hard the entire time.