I can't find the source, but I heard most of the newest crop of billionaires made all their money of financialized wealth (ie, not producing anything of value, just arbitraging something - probably mostly real-estate).
They're not exactly doing nothing but they're not producing anything of real value. This is a growing problem in the US.
I agree with your larger points, but also arbitraging away price differences is valuable for a society. It feels like one of the big advantages capitalism has versus planned economies
And then you have people earning millions, that at least when compared to the numerous workers being underpaid and actually doing the hard work that generates profit, basically do so little work they may as well be sitting on their asses.
Your argument is a strawman - but yes, ideally this would come via additional taxation or regulation of investment (which we do now, but not well enough).
That would restrict access to early investment deals and opportunities for regular folks even more (today you have to be a "certified" investor) in turn increasing wealth inequality and social mobility.
You really need to learn how to respond to arguments without constructing strawmen. You can't get to a resolution of different viewpoints by misrepresenting the opposing argument
They do disincentivize and thus reduce the investment in the area though. An area which helps the economy grow and in process creates good services and jobs for everybody.
Outside of people who inherit this kind of wealth, who exactly is accumulating millions just sitting on their asses?