This seems a little myopic. Definitely earnings growth is a factor, but it can’t really explain what just happened with GameStop and WSB, nor most of Amazon’s rise over the past decades. Future expected cash flows, market size, interest rates (and therefore capital seeking yield via equity markets) are all factors. Alongside human tastes, cultural perception, and pockets of irrationality.

You cherry picked examples. I'm talking 99% of cases.

Of course they do.

Lower interest rates enable growth in corporate debt, which has been used to buy back stock.

There is a direct connection between decades of lower rates, stock buy backs, and asset appreciation including stocks.

https://archive.is/NMR1R

Low interest rates definitely increase the amount of money chasing equities. There's no where else to get a good return.

This pushes up the price of equities and decreases their return too.

Also Peter Lynch is no fool, so I'd like a source for you saying he thinks there is no connection before I believe he said that.

Imagine thinking fundamentals have anything to do with stock prices.