Discuss Michael Burrys quote in the context of market efficiency. What are the implications for asset-pricing models such as CAPM?

...Passive investing has removed price discovery from the equity markets. The simple theses and the models that get people into sectors, factors, indexes, or ETFs and mutual funds mimicking those strategies these do not require the security-level analysis that is required for true price discovery. - Michael Burry, Interview with Bloomberg News (September 2019)