Risking one's retirement on a Pinkie is something alike to betting it all on a poker table.
And yet, people do it all the time. In fact, the game relies on it. Without these people losing everything, there is far less money for "the players" who claim that everyone should know what they're getting into. In reality, the last thing in the world that "the players" want is educated investors. The more that investors understand what a cesspool the pinks are, the more the game suffers.
Fortunately, I think that awareness is heightening.