It's a good thing some people actually shoot for the stars so that they build platforms that enable people like you who don't like to gamble to build small profitable apps living a healthy lifestyle.
If nobody shot for the stars, we would be stuck at the stone age.
Why exactly does building enabling IT platforms (let alone other technological advancements) require multiple rounds of funding from outside investors and a pathological focus on growth with no regard for sustainable structures and profitability?
I find this entirely unpersuasive. Most of the things that are getting funded by VCs are not shoot-for-the-stars world-changers. Look at the list of recent funding announcements:
Mobile-PC syncing of videos. Mobile-PC syncing of contacts. A way to save your child's artwork. Yet another payment solution. Yet another e-signature solution. Fine businesses, I'm sure, but nothing that's worth dying for.
The Silicon Valley hype cycle creates a lot of unnecessary drama. I can agree with you a little, in that people doing big things will sometimes experience big drama. But too many people, VCs included, work that equation backwards: big drama is a great indicator of doing big things!
As far as I can tell, most of the drama is just macho idiocy.