I don't think that's exclusive to the Valley, and I've never really understood it.
One of the things I miss about living in a smaller place is when a band would come to town, they would generally play at a smaller venue than they would for a place like SF. After the show, you could go up and talk to them, shoot the shit, etc... The funny thing was, most people still wouldn't take advantage of that opportunity. I usually did, and I got to talk to a lot of cool people because of it.
But while an iconic indie rock legend is still a bit different that someone like Mark Zuckerberg, people are still just people.