How is that a Ponzi Scheme? Self-promoting and narrative-building to make it sound easy, but if you’re building something that someone will pay you money for, you’re literally just building a business...?
I know a kid who ended up doing that for his comp sci "internship." I feel so bad for the guy but he really didn't even learn how to code so it's frankly all on him.
Yes, you are. As the article says, you are actually making money and gaining followers.
It's not a ponzi scheme in the literal sense, but these businesses are built off the back of other people who believe they can do what you're doing supporting you (In the article this is by paying for your course).
Some of them will go on to create their own successful businesses (And perpetuate the cycle), but most will most likely fail.
There was a post on Indie Hackers not long ago about a guy who said he lost thousands of dollars trying to build a business. I'm sure there are many more people who got into similar situations.