Wish was valued at $11 billion in the last VC round in 2019. Since then Shopify is up 200% so if Wish is being valued off Shopify then $37.5 billion isn't far off. Shop's price to sales is 50x so 15x isn't outrageous for Wish. Shop is growing faster but Wish's economics are better.
But Wish is in a retailer vs Shopify as a platform. I Highly doubt wish has the same value. In fact, I don't know a single instance of someone shopping wish and being satisfied. Someone will buy it, it'll probably be way over valued, and it will eventually drop back.
Shopify is a service provider, it's not a platform because it doesn't control the relationship with the consumer. Wish is an aggregator on both sides and that's why it's a platform.
If by some miracle Wish gets 15x, they'll be a spectacular short opportunity.