I mean, isn't that basically what the first .com was about? :)
Everyone went from thinking every page view was equivalent to a magazine/tv/radio ad view, paying 5-10$ CPM and then everyone wised up and the industry was decimated for a while.
The first .com bust was that these e-stores weren't profitable compared to valuations. So much money was poured in.. I use to get 1 or 2 dollar checks from free spin places. Too much money too soon. Ads had nothing to do with the bust. When pets.com went bust the market the air left with it and everyone moved into companies laying cable.
Everyone went from thinking every page view was equivalent to a magazine/tv/radio ad view, paying 5-10$ CPM and then everyone wised up and the industry was decimated for a while.