Yes, things might be significantly mispriced, but the amount of mispricing is a finite quantity. This is clear in the classic pump and dump scheme. During the

Yes, things might be significantly mispriced, but the amount of mispricing is a finite quantity. This is clear in the classic pump and dump scheme. During the pumping stage, the unscrupulous actor loses money by injecting some amount of mispricing by purchasing the security and bidding up its value. The hope is to generate momentum and hype that triggers others to amplify that mispricing. Then during the dump scheme, the unscrupulous actor can capitalize by removing the mispricing.