Your general logic seems to circle around expecting massive sales and huge production mindset (where investment has to be compensated with millions of sales). Jolla has modest expectations for the starting stage, so massive marketing would be an overstretch. But it shouldn't be abysmal either, I agree.
I never said they should grow unsustainably and run out of cash, but my money is on them running out of cash anyway because their marketing is so poor it'll fail to drive the sales they need to keep the lights on. Frankly, supply shortages would be the best thing that could happen to them because scarcity drives demand and perceived value.
How is it exactly, if they were serving all their preorders already? They don't seem to have the lack of demand atm.
Companies, new and established, just can't afford to be conservative when it comes convincing people to give them money. Bad marketing = bad sales.