I think you could extend this observation even further. Business culture has a habit of sh*ting on new knowledge as being useless because businessmen often lack these knowledge yet still manage to succeed. An example of this is the general disdain for innovative approaches.
They fail to realize that the reason they're succeeding is not because traditional business know-how is useful but rather because crony capitalism allows you to succeed without innovation. However this advantage disappears once a market disrupter appears. We are currently in a golden age of innovation, but that won't last forever.
There is definitely a case to be made about old stodgy incumbents getting in the way of innovation. But my point isn't really about innovation disrupting the old but rather people throwing out the baby with the bath water when it comes to the relevance of business know-how.
They fail to realize that the reason they're succeeding is not because traditional business know-how is useful but rather because crony capitalism allows you to succeed without innovation. However this advantage disappears once a market disrupter appears. We are currently in a golden age of innovation, but that won't last forever.