And K-Mart went belly up and those investors in K-mart lost everything, now didn't they?
Kmart had 2,500 stores worldwide and had revenues surpassing $11 Billion dollars
Was K-mart a scam?
It doesn't matter if it is a startup with no revenue of a LONG ESTABLISHED company with billions in revenue some investors will profit and some will not.
An investor in SNPW a company who never sold $1 and ever had a store except a mailbox in shitty New Jersey strip mall,, still has a chance to profit (just so you don't get confused not saying they will but the possibility to do so still exist) while those investors in K-mart even after 11 billion dollars in revenue do not.