It should be, but the actual premium is the result of a human decision, and humans sometimes make very bad decisions. (See, for instance, the purchase of Skype by eBay a decade ago. Also on the value of a network that was an alternative to phone calls.)
"In May 2011, all of the equity in Skype was sold to Microsoft for $8.5 billion. Due to eBay's 30% stake at the time of sale, the company realized a net gain of $1.4 billion on its original investment in Skype."
