Your have some good points & they are still supported by multiple very large individual Purchases (examples per below) in the past.
Peter J Barris 10% Owner - [10%] 10,000,000
Forest Baskett 10% Owner - [10%] 10,714,285
Florence Anthony A. Jr. 10% Owner - [10%] 10,714,285
David M Mott 10% Owner - [10%] 10,000,000
Mohamad Makhzoumi 10% Owner - [10%] 10,714,285
Nea 16 Gp, Llc 10% Owner - [10%] 10,714,285