Those are all very concrete reasons for valuations
As well, micro-fluctuations in APY driven by stock price values create inconsistent hopes: a dividend investor that will "never" sell should hope that stock prices do not exceed inflation so that APY is stable or goes up, while most people hope that stock prices inflate with the economy or go up so that appreciation can be realized at sale.
Then there are the people who bought at IPO, at which the closest thing to a true valuation exists: it is at the IPO cost basis that a true value is established. IPO is also where the company performance becomes coupled to the stock price as the general public invests money into the company in the sale, and employees with stock options become incentivized to exercise any available control over the stock price, including increasing company performance.
I think there is a continuum between dividend investors and stock price speculators, and there is also some kind of monotonically devolving continuum from a rational value basis into chaotic market forces. In one corner of this N-dimensional continuum, I can definitely agree with you.
One of my favorite pitfalls in aero is connector mating lifetimes. Any time there is a connector (like a good old-fashioned DB-9), there are metals in the contacts that will have a pressure-based interface (pin inserting into hole). High-ductility metals (copper, gold, etc. that are typically used for connectors) like to become brittle after getting bent around a bit. Unfortunately, when the individual conductors become more brittle, their stiffness goes down, and this results in the connector performing poorly on vibes. This is because the resonant properties of the individual pins within a connector are tuned to not have micro-disconnects during the vibration of launch - they are sufficiently stiff to withstand the forces. This tuning is a function of the number of times it has been connected and disconnected because of the embrittlement, so each connector has a "mating lifetime" on the order of 10 mates/demates before you have to scrap it. This means your flight electrical connectors are really, really important. I remember being a young naive engineer and being shocked and appalled by the waste.
[1]: https://ntrs.nasa.gov/api/citations/19900004959/downloads/19...