All true. And, yet, there is a population who will always bet on the longest-shot horse in a race in the hopes they will win a big payday.
From what I can tell, there's a movement underway to pump this in a meme fashion, ala AMC, and if enough people buy into it, it might happen.
So they're betting on a black swan event, not on the merits of the company or its stock, per se. Honestly, it's only a dumb bet if it doesn't work.