Agree with your assessment. POET has been a trader. The post by killer66 is a very good presentation representation of industry expectations with new technologies within the PIC industry.
https://agoracom.com/ir/POETTechnologies/forums/discussion/topics/694194-photonics-markets-forecast/messages/2161847#message
POET's projected timelines are reasonable IF (big IF) POET has no further delays in getting it to market. IMO, When that day comes the market will re-evaluate POET's Market cap in a big way. Until then, it is a trading vehicle.
GL.