At what point does owning SPY + QQQ + a growth ETF stop being diversification and start being the same bet in different

I’ve been thinking about this lately and I’m curious how others look at it. Let’s say someone owns SPY, QQQ and VUG. On paper it looks diversified because they’re 3 different ETFs but when you look at what’s actually inside them, there’s quite a bit of overlap and they’re all pretty exposed to large US growth/tech names. So at what point are you not really “diversifying” anymore and just adding more weight to the same type of companies? I’m not saying that’s necessarily bad. If someone intention

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