Are we going to let GoPro go bankrupt? Or is this the next Gamestop?

GoPro is literally trading under $1 and fighting to survive. This is a brand almost everyone knows. They've just launched new cameras, the founder has stepped in with $20 million of his own financing, and they've brought in an investment bank to explore strategic options including a potential sale.

So my question is, are we seriously going to watch GoPro go bankrupt?

I'm not saying this is GameStop. But at one point GameStop was also seen as a dying company that everyone had given up on. Then retail got behind it and the whole story changed.

GoPro has a recognisable global brand, millions of customers and a stock price that has been absolutely destroyed. If there was ever a company retail could get behind, why not GoPro?

Maybe I'm crazy. Maybe the company is finished. But at these levels, is the upside not potentially insane if they survive, get bought out, or somehow turn things around?

Interested to hear everyone's thoughts. Are we watching GoPro die, or could this actually become something bigger?