Are those moments really that different? Motorola was practically the Netscape of the iPhone era, as those early Droids were everywhere. There were tons of others too, then it all imploded with only a few companies really surviving in the smartphone space.
It's not about who is the "Netscape" this time around, it's about the irrational exuberance surrounding the entire thing.
These days it seems like anybody can throw "AI" into their company name (even if it's complete BS) and it has the same effect as adding ".com" to a company name did in the late nineties.
IMHO AI is a .com-like hype cycle that's orders of magnitude larger and more irrational than anything that happened post-iPhone.
That's not to say that there aren't good businesses in there (the same was true of .com, of course), but there's a lot of junk that's getting a lot of money thrown at it.
