> Then don't buy it at the IPO price?

I think you're getting lost here.

If I invested $0.50/share, I know my company is worth realistically $10/share, and I can convince you to buy at $100/share, and it plunges to $50/share before I can offload, I am still a pretty happy camper.

Retail investors are the marks, not the scammer here.

> They're not bullshit artists, they're greedy.

Those aren't mutually exclusive.

Musk is both, for instance.