Is dilution really a negative? Lets say I own 1/100 shares of a £100k company = £1k. The company raises £100k in a fund raising round and 100 new shares are i

Is dilution really a negative? Lets say I own 1/100 shares of a £100k company = £1k. The company raises £100k in a fund raising round and 100 new shares are issued. I now own 1/200 shares of a company worth £100k + £100k cash. My share is still worth £1k. Not only that, but if the company is good the extra capital should be utilised in a way with positive expected value, so the fund raising and subsequent dilution is actually good news for me with my 1 share.