Probably not no basis, Dunning and Krueger really did so research & found [retracted] a negative correlation between self-rated ability and performance on an aptitude test afaik [/retracted]. But it's often overgeneralized or taken to be some kind of law rather than an observation.
> Dunning and Krueger really did so research & find a negative correlation between self-rated ability and performance on an aptitude test afaik
No, they didn't.
They found a positive linear relation with between actual and self-assessed relative performance, with the intersection point at around the 70th percentile. (That is, people on average report themselves closer to the 70th percentile than they are, those below erring higher and those above erring lower.)
The (self-rated rank) - (actual rank) difference goes up as actual rank goes down, but that's not self-rated ability going up with reduced ability.