There is nothing wrong with the understanding of SOI as far as for seasoned investors.... But it matters for newer investors.
A novice investor looks at 2c and sees penny stock, which was great when people were buying watching clueless YT gurus.
10c - 20c is better suited to entice newer investors who think double digits is a later stage explorer.
Do I believe it is 100% true not fully but read miner threads you will see same kind of comments made by people new to investing over and over again.
Much like posters who beileve SYA at 22c with 8.3 Billion SOI is multiples cheaper compared CXO $1.30 with 1.8 Billion SOI another near term miner. These posters don't even consider JORC or LOM.
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