The current market isn’t based on reality, but on the expectation of government support.
If we suddenly got a capitalist federal government tomorrow, the DOW would collapse; however, Main Street would boom.
After the Dow readjusted to tracking a real economy, it would then recover and grow to match real growth.
Hard to say what would happen in the short-term, but you are right that we'd all be better off in the long haul, and the stock market would also be stronger and more based in reality in the long haul.