SEC enforces disclosure, not merit
Most commenters say the SEC's role is to ensure honest disclosure, not to judge whether an IPO is a good bet. Giving regulators veto power over who lists invites corruption.
Retail and index exposure justifies caution
Others argue that huge compute commitments, slowing growth and quick index inclusion could push risk onto pension funds and retirement savers, so a delay or extra audits are warranted.
Disclosure complaints are overblown
Defenders note the S-1 is audited, non-GAAP metrics and amended filings are routine, and the Q3 results have now been added, so claims of hidden numbers misread standard practice.