All valid reasons, but I think my point was moreso if they find themselves posting on MicroAcquire, they will likely end up in my #3, whether they intended to or not, and rightfully so.
Maybe the multiples only seem high to you, and others are anchoring on other market assumptions? (Different market assumptions being a key driver of trading in many things.)
Markets are crazy right now, and #3 could fairly describe transactions in the stock market, housing market, commodities market, etc. occurring now.
Also for sub-scale businesses, it may not be useful to value them based on revenue or profit multiples. For example, if the app is not making much money because there's been no money spent to promote it, how can one know if it's "expensive" or not? I might instead look at it and decide that I would need to spend $25k on development to build the app, so spending $5k to accelerate launch is cheap. Value really is in the eye of the buyer.
