Not sure I’d call it a pyramid scheme, but unless you can get a majority stake, the values are almost entirely disconnected from the fundamentals of the corporation. If you buy a few shares of Apple, you have virtually no say in the management of the company; all you have are liquidation rights (and perhaps potential, relatively small dividends). Apple isn’t going to liquidate unless shit hits the fan, in which case you will get next to nothing anyway. There is minimal or no actual value in owning extreme minority stakes in a company.

That said, I still invest, but I am dependent on others also buying into the fiction so I can make money.