[notahacker]

Well yeah, depends which number you bet on roulette or whether you're the best poker player in the room too! Perhaps we could regulate startups like gambling and allow them to welcome anyone but only allow them to market the "thrill of gambling" like casinos instead of delivering very confident financial projections about how much they're going to make. But I'm not sure investment would be forthcoming then, because actually I think people want to put their savings into startups to get rich.

When gambling is restricted, gamblers generally don't argue it's a conspiracy to prevent them getting rich. The delusion that retail startup investment isn't the bigger gamble with worse odds (unless you're in the leagues where you can personally prod the founders on a daily basis) is why accredited investor rules exists. It'd be a lot easier to believe arguments relaxing them were sound if the people making them were arguing it was depriving them of fun rather than depriving them of the opportunity to get rich.