price target 7.50, page-155

This is not quite correct. The asx200 is overvalued but there are fundamental reasons why its trading at 4700 at this moment in time. Primarily the asx 200 is trading this high is due to low interest rates which offer no return on investment. Consequently i have sold out of some large blue chip stock., 2.5% return on investment for blue chip is unrealistic.

Even if the asx 200 is overvalued short term, it will retain its value over time therefore it depends if you are a long term holder. Your reasoning is flawed on that basis.

Fundamentals are relative to objectives and whether you believe a company will survive over time.

The real drive of BNPL was covid, this created prolonged dead cat bounce of the asx 200 that transformed into a bull run supported by national government bailout, low interest rates and easy access to alternative finance which people don't fully understand. The consequence was large increase in BNPL finance.
The dead cat is yet to fall but its coming.