While I agree that this logic applies to the first, and maybe (though this is arguable) the second, none of the later startups in the same space were plausible "home runs". If that model was going to work, it would work for the first or second company in that space (unless they were somehow pathologically mismanaged). An also-ran in the same space is not only less likely to succeed, but if they succeed it will be because that space will be one where there are many long-term competitors...which will mean they have no "moat", and cannot be the "home run" that the original investor was looking for.
So, in this case, you could excuse the investors in Bird and maybe Lime, but it seemed that there were a lot more companies than that.
Fair, I'm definitely talking about the execution of the "dump VC on it and winner take all" strategy that would have only worked for Bird or Lime.
Also, as a personal aside, I actually enjoy the product a lot. Whenever I visit San Diego or Austin, those scooters make getting around downtown a lot more quick and fun and it's absolutely worth $3 or whatever to do it. I do of course get the point that my personal anecdote does not a plausible unicorn make.
So, in this case, you could excuse the investors in Bird and maybe Lime, but it seemed that there were a lot more companies than that.