You seem to be assuming bad faith in place of a more likely explanation. Various models of funding are predicated on taking equity, either directly in exchange

You seem to be assuming bad faith in place of a more likely explanation. Various models of funding are predicated on taking equity, either directly in exchange for cash or as collateral for a loan. The problem is that as soon as you issue equity to investors, the business isn't worker-owned (and, crucially, worker controlled) anymore, it's (at least partially) investor owned.