It could be, but it could also be that buying MSTR has a different ethos than Bitcoin.

MSTR is essentially a leveraged bet on the price Bitcoin. If bitcoin goes up, the price of MSTR goes up more. But if bitcoin goes down, the price of MSTR would go down even more.

So, buying MSTR means you're betting on bitcoin to rise in price... which is fine if you're in it for the fiat gains, but for a lot of bitcoiners we don't really see ourselves as in this for the gainz