This is 100% true for later stage companies with established products/stakeholders and 100% false for early stage startups. I have found product market fit 3 t

This is 100% true for later stage companies with established products/stakeholders and 100% false for early stage startups. I have found product market fit 3 times in my life. Each time was with an extraordinarily shitty, unmaintainable, low quality codebase. But those shitty codebases iterate the end product faster and the speed of iteration is all that matters when you are trying to make your worthless startup become a useful company. Once you find what your users want, 100% it will be rewritten from scratch in a scalable, robust, thoughtfully designed way anyway. With you on the equity bit.