Is it hyperbole to say – “Next 20x returns or more will be from biotech industry”?

I’ve heard lots of people say a big revolution is going to happen through advances in biotech – gene editing/long read sequencing/precision medicine etc. And some even claim that this will give rise to BigTech like giants in biotech and be comparable to mega returns provided by BigTech.
* Is it all hype?
* Did investors 30 years ago think the same based on the biotech landscape then?
* Will this revolution translate to huge investing returns?