The structure is very similar to all those OHM treasury coins where the stock/token (here MSTR or OHM) isn't actually redeemable for all the underlying stuff in the treasury. If you hold the equity in MSTR or OHM, you're just getting diluted without any ability to redeem for the underlying Bitcoin. It helps that MSTR also sells its software platform, but I would rather hold Bitcoin (as would they it seems)