The major incorrect - deliberately false/alarmist - assumption...

The major incorrect - deliberately false/alarmist - assumption he makes is that Buddy is a one-product company.

"..when I looked at their product."

Begins and ends right there.

Perhaps he should dig a little , might come up with a more balanced hypothesis.

For me, the most important thing that came out of the update this week was the fact that the recent CR was fully subscribed - in 3-4 days - by funds/instos who had been following/talking with Buddy for the past couple of years.

Question: Why did they choose to invest now?

Could it be that, in conducting their due diligence they dug a little deeper and discovered conglomerate gold?