I would consider the few unicorn examples provided to be outliers.

For most of the 2010’s ZIRP created a startup gold rush with everyone trying to leverage the same “burn money, get users” strategy you’ve outlined.

Excepting the current AI bubble, you cannot play that strategy today. Investors started demanding real results in the post COVID inflation years and continue to do so today, or else don’t invest at all in high-risk ventures with no tangible results.