I don't think that is the intention of the bet, no.

Wow, way to contradict yourself. You say it's indistinguishable and distinguish in the next sentence? A bubble is distinguishable this way: if the value of the asset comes only from selling it to someone else, it's a bubble. If the asset provides value without selling it, it isn't a bubble. Pretty simple right?

To the extent they go public, sure, those numbers are more reasonable.