[incub8or]

This assumes the same corporate/shareholding structure would have prevailed through the process of changing the business model. It is by no means certain this would have been the case as the "pivot" could have been done through a new company. So, given all the facts available at the time, sounds like the right decision was taken.

[nathanlustig1]

This is very true, it makes for a better blog post title to say it could have been worth a bunch of money today, but in reality, its likely the stock would have been diluted down to barely anything today.