There’s a tiny bit more - the institutional guys let their exposure get out of hand by shorting more than the stock’s float (I think something like 140%!), so there was never going to be a way to cover the short interest without moving the market against themselves. And beyond a short squeeze, there are some positive fundamentals in place that the WSB guys pointed out repeatedly.

I think this is a crowded short trade and the institutional guys are not as smart as they think they are. When they lose, they get pouty and start complaining to regulators.