You can't try to make millions of dollars out of thin air, although it's a pleasantly optimistic thought. What it ends up boiling down to is that when some people are making money out of thin air, some people's money is disappearing into thin air. Institutional investors spend their whole careers on the market and have a solid grasp of the companies involved and their technologies. They make investments based on careful analyses and poised thought and they can see through superficial press releases.
Individual investors tend to have day jobs and do a little trading on the side.
Consequently, they don't have time to acquire a detailed understanding of the markets they are trading in. This, in turn, leads them to be subject to believe every last press release, rumor, and hype around a company or industry. This is NOT healthy for the market. So, to a significant degree they are at fault. Even at the start, when things were beginning to really explode and Jupiter and Forrester began releasing their reports on growth full of hyperbole and optimistic exaggeration, technologists felt a flattered, but a little uneasy.