"Deeply concerning" structural breakdown

A bit of a click bait title to get the people going this morning, but I am sick of reading these hit pieces on strategy written by people with the time preference of a squirrel. Clearly has not done enough research and is taking a cycle low snapshot analyzed with short term metrics.

https://finance.yahoo.com/news/why-microstrategy-latest-bitcoin-purchase-193558229.html

what the author fails to capture is that strategy is not attempting to maximize short-term BTC-per-share smoothness. It is attempting to maximize long term btc exposure per unit of equity volatility, using capital markets as a conversion layer. He is building out the gears of a fiat transmission that they can open the throttle.

Temporary mNAV compression and flat accretion during volatile months are expected not pathological. The author makes

The strategy only fails if btc permanently underperforms fiat, capital markets close for years, or management abandons disciplined issuance

None of those conditions are currently present

What do you all think about short term BTC/share falling?