I think there is the “why would I hit the bid when I can sit...

I think there is the “why would I hit the bid when I can sit back and wait for VC to offload further down at a lower price” going on here. This offloading is clearly the predominant driver for SP at the moment - you even see retail selling first on news as they know the offloading will likely follow.

This therefore heavily supports the notion that the SP is out of sync with true value here, as not only is supply being temporarily increased by VC, but also many others who are acting differently (holding their buys lower or selling in anticipation of buying back in lower) as a result of her selling.