This is called a pump and dump scam, and is fraud. It hurts real people. It's why the regulatory framework exists, to protect naive investors from predatory ones, and ensure that misconduct doesn't overwhelm the valuable functions of the market.
An old adage used to describe the law in this context: "you can be a pig, but don't be a hog".
He has explained his thesis hundreds of times in public, he's following thru with that thesis, there's no surprise or rugpull.
1 - https://news.crunchbase.com/venture/meet-public-com-the-soci...
The whales manipulate markets much more than anything Keith Gill has done.
It isn’t a pump and dump if he isn’t lying about it to pump it up (talking about your own actual position or the fundamentals isn’t “pumping”) and if he isn’t dumping it (“diamond hands” is sort of his thing)
He has the position and the funds to make the play himself.