Well, not really. When they decided to file the S-1, they were likely in a very different business model, and the underlying cryptos (for the most part) were very much non-scams (as far as that can be applied to cryptos).
It would be like going public as a company that looked like ebay, and then later most of your userbase is buying and selling heroin, and now your business totally revolves around the heroin, and you've taken certain steps to encourage and participate in this heroin market directly.
Backpage is the more relevant example, at least in the US IMO. But, no as much drugs as the 'adult services.' I don't think they were publicly traded, either.
It would be like going public as a company that looked like ebay, and then later most of your userbase is buying and selling heroin, and now your business totally revolves around the heroin, and you've taken certain steps to encourage and participate in this heroin market directly.