On top of that, IMO the vast majority of their value as a brand comes from the community that develops for and with the platform. See every review for the alternative SBC market (Orange Pi, Bana Pi, etc.) "Sure it's better/cheaper but they don't have the huge community..."
So, if they IPO, will they first be distributing equity to the community? Or are they just cash-grabbing a retirement play?
Pine64 has been doing much better in that matter for years, I've had a Pine64 since 2016 and a raspberry pi 4 running the same OS (dietpi) and software kept running hotter even though it got released 3 years later and for double the price
The mission was always to produce quality low cost computers for hobbyists and kids with open source software.
The moment you IPO you will have shareholders demanding you put profit before people and the users will always lose in that deal.