From the point of view of the rich, yes, that is what I am saying.

To the rich, the net has provided new avenues for venture capital, and expanded the opportunity for investment in net-related technologies, but these by and large have been bubble investments.  And the rich were already profiting from bubbles - for example, nobody needed the web to invent mortgage-backed securities.  Generally, very little change there.

Sure, there are exceptions, but by and large, the "immutable bylaws of business" have continued to accrete capital to the rich.   In 1996, the wild-eyed among us were certain that capital itself was being democratized and decentralized (such as Bitcoin/P2P cryptocurrency is often said to be doing).  That is, to say the least, not the case a decade and a half later.