This post is worth reading twice.
Suresh saw where the industry needed to go and invented the chips to do it with. He listened to the customers, and pivoted as needed. Now he has one of the few formulae for an 800G module, and a path to 1.6G and 3.2G. That and the lightbar and other items to enable a robust shift to photonics, as CAI is pursuing.
These shifts and pivots cost time and money, thus the share price slippage. Along with the talk followed by no profits, and money raising woes.
All of this is now behind us. This has left a fatigue that is the fatigue shown in most of the comments here. But the road has been well built. There is more to do, but Foxconn, Luxshare, and Sanan, CAI have all signed on.
Are we there yet? No, to the kids in the back seat, but not much longer.