I don't think RH will excercise the nuclear option. Things may be looking grim but no night lasts forever. He's a young man and can recover from whatever is coming.
16 million shares is nothing to laugh at if the 5 amigos can get things up and running. When a person has dug a hole, the first best step for them is to stop digging.
As much as folks hate him on the board, I don't wish any ill will on him... He has made his bed and will have to lie in it.