FWIW, I've found it to be a hotbed of creativity and innovation, >and< a hotbed of flash-in-the-pan douchbaggery, if that's what you seek that out. The stupidity is easy to avoid.
Yes, exactly. While there are a plenty of hucksters and faux-glamorous hangers-on, there is also an enormous amount of real work being done, both at quiet little startups too busy making something great to bother with publicity, and at large companies, where the engineering talent is sometimes so great that people don’t even notice that it’s there.