The people who will invest in the IPO aren't going to be the people who lost money due to RH locking the purchasing of stocks and stopping the price from sky rocketing.
But in terms of a customer base, in terms of a company, RH are dust.
Yes but RH didn't have the billions of $$$ deposited at the clearing house for their trades to be honored. Buying stock to settle a few days later requires collateral that RH didn't have.
It may help to read through the answers: https://money.stackexchange.com/questions/136272/why-would-c...
This is why they scrambled at the last minute to raise billions to meet the higher collateral requirements: https://www.google.com/search?q=robinhood+2.4+3.4+billion
RH does some questionable things but their "restriction of the buying" is an inevitable consequence of not having the billions to meet any margin calls. They were the tail not the dog.
Right, because sell orders would lower the clearinghouse margin requirements. If there are $100M GME buys on RH with 2 days to clear and $100M GME sells with 2 days to clear, their clearinghouse margin requirement is $0.