Do a risk based calculation of compensation and learning.
Your will see that you are putting you self at risk - especially if you had the opportunity to work at an renowned business.
Eg. Having 2 no name defunct businesses on your resume you claim as startups over 3 years will likely not benefit you so much.
All depends on the person, their goals, their expectations, the experiences they want to have.
Agree we should not deceive anybody that doing this would make them rich or have a successful business. Most startups fail, startups by new college grads who never had a job might fail even more than normal startups. But if an adult wants to burn a few years of their 20s this way, fine. Maximizing earning efficiency of earnings in your 20s might not be optimal either. Maybe you hit a local maximum and would have much higher earnings later after discovering something by following your nose for a few years.