I can't agree that its being 'set up for a cheap takeover'. That suggests management are doing it deliberately and clearly, their intension is to build a stand alone company. With the aim of disrupting an industry.Surely the management team haven't joined for a cheap buyout??

That said, I would be concerned, that if it starts to look likely they may disrupt, then yes, a hostile bid can't be ruled out. So I would agree with some of your sentiment. This is exactly why management are treading very carefully. Not shouting from the rooftops IMO