Bingo, I really think you nailed it right there AdAstra. And per earlier posts, even before "booking" revenue, any meaningful disclosures/announcements they can make confirming business agreements (in a tangible, unobscured, quantified way) will at least crack open that possibility.
I feel sometimes we don't sufficiently distinguish tech/product status as separate from "investability" from the likely perspective, or even mandate, of an institutional fiduciary.
Until that line is crossed, perhaps we're still formally defined as speculative and therefore outside pre-set risk parameters of larger investors.