I would think this is obvious if you follow the banter. But note that most failed stocks have boards where 1) there is a contingent of folks thinking riches are coming for a long time after it closes up, 2) there is a contingent of folks who keep reminding them logically that that can't happen, and 3) there is a contingent of folks like yourself who ask "why" or "why are you here" to the 2nd contingent. I am not sure why or how these roles are so consistent across the bankrupt stock boards, but they certainly are.
But anyway, there are 2 types to the "shares are safe" camp. One group just hopes they will be paid off someday, no matter how hopeless. Another group has allowed their identity to be mixed up in this, as if their value is in part determined by their ability to pick this winner. So they won't give up, and as we've seen, have invented a way to never have to (although its completely over).
On the other side, its mostly hobbyists, people who know how this process works and finds it constructive and interesting to refute the varying and changing claims of share safety with applicable documentation.