INDs and phase 1s are expensive and not trivial in any sense.
Excellent example of precisely my point.
Of course it is nowhere near as complex as phase 2. But it is not remotely trivial.
I’m saying that the millions of dollars in expenses are irrelevant if you can recoup those costs plus some profit by selling snake oil.
Your comment is just “millions of dollars is a lot of money!” I don’t care whether you think that’s a lot of money.
If you think that cost cannot be recouped by selling snake oil for some reason, then explain why.