I believe that thorchain is sustainable in the long run without all of this debt weight that they took on. They should indeed bite the bullet and stop the bleeding.
This will likely mean that the price goes down even more. Maybe to $1.00-1.50, but probably not to $0.00--that is if they stop the bleeding aggressively. If they let nature take it's course, it's going to get ugly--maybe even to $0 or near.
I plan on buying, but am trying to decide whether to do it large @ $2 or average down. If I decide to average down then this will probably be the low. If I buy large @ $2, then it will go down.
Putting it all on at $2 will double my bag, but if I average down, I might triple or quadruple my bag!
You pays your money and takes your chances!