It's possible to question the accuracy of the projections without disputing that the numbers are expected to go up. It's not that the new data centers wouldn't produce any revenue but rather that those numbers are where unfounded speculation could be happening. If and when those numbers fail to materialize (or when investors revise their projections) would presumably be the point at which the music stops.

Recall that the exchange earlier called into question the similarity or difference to enron. Sure, the current revenue numbers don't appear to be cooked but if the future revenue numbers are unrealistic and everyone is using those future numbers to make their decisions then isn't the end result roughly analogous? Blatant fraud not withstanding of course.

Note that I'm not claiming the above to be the case. Merely illustrating the commonality and acknowledging the possibility.