Not to mention that a government ownership stake also incentivizes a bailout if this all goes bust.

A 5% stake in an overvalued private company without public financials and with an indeterminate timeline to profitability is a bailout. Shareholders cash out while the taxpayer is stuck with the bill.

With the way they're treading on, I'd not be surprised if a bailout happens in the next decade.

Why?

"Too big to fail."