A little knowledge is a dangerous thing, not sure what the official name for this particular cognitive bias is (feel free to enlighten me). Probably most of us can recognize that feeling of enlightenment after learning a bit of something new and exciting, and not realizing yet how far it is from the mastery of the subject. I suspect that learning the LW brand of rationality is one of those. (Incidentally, if the words "LW brand of rationality" irked you, because you think that there is only one true rationality, consider how close you might be to that particular summit of Mt. Stupid.) See also the last bullet point in the linked comic strip.
As an exercise in rationality, I suggest people post personal accounts of successfully traversing Mt.Stupid, or maybe getting stuck there forever, never to be heard from again. Did you find any of the techniques described in the sequences useful to overcome this bias, beyond the obvious of continuing to learn more about the topic in question? Did you manage to avoid turning Mt.Stupid into the Loggerhead range?
My example: I thought I was great at programming fresh out of college, and ready to dispense my newly found wisdom. Boy, oh boy, was I ever wrong. And then it happened again when I learned some more of the subject on the job...
Does Mount Stupid refer to the observation that people tend to talk loudly and confidently about subjects they barely understand (but not about subjects they understand so poorly that they know they must understand it poorly)? In that case, yes, once you stop opining the phenomenon (Mount Stupid) goes away.
Mount Stupid has a very different meaning to me. To me it refers to the idea that "feeling of competence" and "actual competence" are not linearly correlated. You can gain a little in actual competence and gain a LOT in terms of "feeling of competence". This is when you're on Mount Stupid. Then, as you learn more your feeling of competence and actual competence sort of converge.
The picture that takes "Willingness to opine" on the Y-axis is, in my opinion, a funny observation of the phenomenon that people who learn a little bit about a subject become really vocal about it. It's just a funny way to visualize the real insight (Δ feeling of competence != Δ competence) in a way that connects to people because we can probably all remember when we made that specific mistake (talking confidently about a subject we knew little about).
I understood it to come from here, but if there's another source or we wish to adopt a different usage I'm fine with that. Actual vs. perceived competence is probably a more useful comparison.