You are absolutely right.

I am bootstrapping. I own 100% of the company.

Morally I agree with you.

My wallet unfortunately does not.

And I don't blame you!

Bootstrapping is hard, and I know that I am lucky to be able to...thus far.

If the world would still be net better off with the VC-backed software, and it wouldn't get made any other way, I don't think it would be immoral to take it, so long as effort is made to follow the harder path.

This depends on type of stock, old-fashioned stock had dividends, so investors were interested in profit rather than liquidity event.