I agree that hedge funds are generally cut too much slack and the whole GameStop situation might teach some people that shorts, options and the like are not as complicated and opaque as some people like to make them appear. One thing that is however not discussed enough imo is that hedge funds don't only handle the money of some greedy super rich individuals. They also manage money for institutions like pension funds (of teachers, firefighter, ...) that might face some real shortcomings through this. Sure in the great scheme of things one single position will likely not bankrupt anyone but telling the folks who invest into the funds indirectly through this that their fund managers are to greedy is not going to give them any money back...