The vast majority of businesses don’t own domains and host their own websites which is what the .com bubble was. They host pages on Etsy, Facebook, squarespace, WordPress etc etc.
Are you saying the .com bubble should have never happened if all small businesses just would have gone into a big site umbrella?
Also: https://www.statista.com/chart/amp/19058/number-of-websites-online/
The raw number of individual websites have exploded since .com bubble era. So that argument seems not to hold very well. As you are somehow implying that there are less sites now than then, and that os simply untrue.
It’s also not true that the .com bubble affected the creation of new websites or the internet technology on the long term.
The amount of websites isn’t what eventually consolidated. Internet traffic did, and the value of domains went way down. That’s why it’s described as a bubble.
