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Mostly in times of economic growth and very positive sentiment. It's the antidote to the catch-22 that you can't get a particular job without the experience but can't get the experience without the job.
Simply put 'fake it until' applies when you can put experience you don't (quite) have on a CV; get the job and acquire the experience before it is ever tested in any meaningful way. That only really happens in a period of rapid economic expansion (whether that be in your (their) business, sector, or country wide). In such cases no-one really knows what they're doing.
I don't have much experience of celeb or influencer culture FITYMI - finding someones parked Lamborghini or private plane and dancing in front of it for a TikTok pretending that is yours.