No, that’s completely fair. And Dave’s well-publicised admiration for Jimmy Donaldson certainly doesn’t help in that respect. (They also seem like they may have previously had a professional relationship, though the details and extent are unclear.)

But everything he or the other founders have said about Nebula makes it sound like they’re doing the right thing, and they are very deliberately avoiding the number one cause of companies that were once fair ceasing to be fair: venture capital. There’s no outside source that could turn around and demand to get a greater return on their investment against the wishes of those operating the company.