What you say above is quite true - but you left out a serious part of the story - as you would if you were representing the shorters. You have simply used the arguments used by institutions when they are trying to justify shorting. Because most regulators they talk to do not fully understand what is going on, they get away with it.
The bit you missed out is the straight out price manipulation to fleece retail holders of their stock, and a lot of shorting, particularly in new/small companies starting to move upwards quickly, is done for that very purpose.
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