Meh you could probably make a decent case for why we are in the middle of a web/mobile/social app bubble, but I think the Gold Rush mentality has always been prevalent with the internet from the very beginning. Because of the very low overhead required to begin construction of a website/webapp/mobile app/etc and because at first glance, the whole world is your market, noobs think they should be able to easily stake a claim in this world. Until one dives into this world though, one doesn't realize the complexity of the code needed to get simple tasks to function properly and the footwork needed to get people interested in what you're doing. The misconception of "internet money" is exactly what Southpark made fun of a few years back (Season 12 e04).

That being said, I'm rooting for Proud Noob. Do I think he'll succeed? No, if succeeding means supporting himself on the creation of this mobile app. Do I think he'll learn a lot in the process if he sticks to his goals? Absolutely.