The platform will never attract a meaningful quantity of new investors by demonstrating that it is incapable of protecting the investments of existing investors
I agree with you there. The way to do that is to make the platform better and more appealing, not by propping it up so investors enter higher and get dumped on later.
I do not agree that a low price means that it can only decline, nor that at 100 million cap, it is anywhere near that. Plenty of assets decline to a value that is a more attractive entry point then gain more investor interest, particularly if the actual value delivered by the asset is increased.