Yep, not smarter, just more privileged, and the only criteria...

Yep, not smarter, just more privileged, and the only criteria are what your net worth is or how much your earn. And that apparently makes a person a sophisticated investor (shrugs).

Management doesn't seem to have made much of an effort to keep a lid on the scrip, the only possible reason would have been that they needed it urgently. It's clear that this is not the case, so yes it's a disappointment.