I wouldn't say it's inevitable they go off a cliff, but they are...

I wouldn't say it's inevitable they go off a cliff, but they are certainly in far more treacherous waters.
The brilliance in Ld and friends was in taking advantage of a benign market conditions.
Cheap money was great for consumers and great for securing funding to build their company.
Covid kept everyone indoors and shopping from home, buying tangible goods.
Everything has changed. Money is no longer almost free, and with covid declining people can get out and spend on experiences (for which theyre far less likely to use bnpl).
So, zip are now in a market where they really need to run fast to get anywhere. However runnign fast is going to very difficult where cof (cost of funds) is rapidly rising.
The $1 price perhaps reflects peoples belief in LD's brilliance and ability to find a way through choppy waters.
One option may be to acquire or be acquired, however funding for this is more difficult, and simply handing out more shares is not easy at the current price.
Imo they're going to get their backsides kicked, and if I had some spare cash I'd be shorting this.