I'm not sure what your argument is here, it seems like you don't think reverse splits have any implications or consequences for the company. You can't casually

I'm not sure what your argument is here, it seems like you don't think reverse splits have any implications or consequences for the company. You can't casually do a reverse split just to avoid being delisted. You're telling investors "we have no idea how to change direction so we're just gonna kick the can down the road for a bit". It's a really big deal, and if Blue Apron survives into 2020 it's very unlikely it will look anything like it does today. Passing below the $1/share marker is a forcing function (i.e. it's not arbitrary at all) for the company to make significant adjustments, as opposed to the plethora of companies that trade in the $1-$10 range who can continue plodding along. BI's audience is one that's mostly aware of this fact, so that's why the article is about that "arbitrary" price marker - it's a sign of major changes incoming rapidly. So, I guess I'm not really sure what your point is. "Just do a reverse split" is like saying "just declare bankruptcy" or "just charge more money" in that it glosses over the consequences of those actions greatly.