I see where you are going. And I agree with the principle. I do not agree that it applies to invest in that IPO, thou. I do not see that investment as equidistant to all other options.
I bought US$350 of stock in some random Australian microcap because my dad worked there in the 1980s. Worst case scenario I lose US$350. And I get to have some fun conversations with my dad. What’s irrational about that?