Historically, when a company gets acquired, the terms of the acquisition vary wildly. Many acquisitions over the past few years have led to a payout of all equity holders, pennies for employees, and layoffs for much of the existing team. This outcome is no worse than an existing acquisition--people just want details because of the new structure. My point is that this is financially no worse than an existing acquisition. It just _feels_ worse because of how it's structured.

And to your last paragraph, read reference [1]. The distribution of that 2.5B is in accordance to the existing cap table; it will make sense once you read that tweet. You must allocate money according to the cap table, and so that allocation is already determined in a company's previous funding rounds.