I listened to the interview a bit back after reading your favorable comments, and I agree, it sounded good, and so far he seems sensible. My concerns are more about whether folks have sensible expectations as that can at times considerably affect the beta, which attracts high beta folks and turns things into a zoo. As far as caution, it is my comparative lack of caution (for me) that makes me even give a hoot.
I mostly agree with your ps 10 scenario, I think expenses are climbing a bit so am more inclined to say 36 or 40m before plenty of folks will participate ps 10 ... but I try not to speak of ps 10 out loud. For new investor, which I kinda consider myself in particular numerical fashion, SKS was a blessing, driving the thing into the dirt of a mcap near 30m. Bless him?
The above content is my opinion.