Not sure - stock market is at all time high, and valuation are above dot com bubble levels. So I think people are actually paying attention and are getting deceived.
Partially true, but the valuation would be much more spread out across the components of S&P500, whereas currently they are extremely concentrated in a handfull of names, and a handfull of others (the ones that CEOs are deceiving the public the most) have sky high valuations without being in any index.