[teachingassist]

> no one has really approached this type of bet sizing from a rigorous perspective beyond the relatively simple Kelly Criterion.

Kelly Criterion takes into account your bankroll at the point of betting, so it does take that into account

I haven't understood your points further than that - minimizing risk of ruin (taken literally) is typically equivalent to not ever gambling at all. No gambler would agree with that, by definition of them being a gambler.