No, but all those people making "Netflix money" aren't really changing technology, are they? I'd argue FAANG is stagnating it, and telling themselves differently.
I guess if you want to make gobs of cash, fine. You could also just go into finance and make more than FAANG money if you're talented enough.
Facebook is a major contributor (sometimes the primary one) to many famous open-source projects: Linux, mercurial, MySQL, React, jemalloc, PyTorch, GraphQL, and probably several others I’m not thinking of.
They’re also one of the top AI/ML research institutions in the world with a huge chunk of the papers published at top conferences.
I'd argue that Microsoft, Google and Apple have enabled massive growth in technology. New uses for OSs, new places for them to run, and ways to make starting far more accessible/collaborative.
Even if there is 2 step forwards, one step back, the overall benefit of options available due to the vast number of people contributing their creativity is only possible due to these companies.
I guess if you want to make gobs of cash, fine. You could also just go into finance and make more than FAANG money if you're talented enough.