"So, are they mourning the loss of a religious leader or the loss of the favors that the religious leader bestowed on them?"
There's no doubt that there's an appearance of resentment at a lost opportunity.
The old pretense that certain posters had almost prophetic insights along the avenues which Wave was pursuing seems to have disappeared with the old leader.
But I don't know anything about PP participation myself. It seems like that was a successful approach to trading Wave's stock. Just as shorting the stock has favoured the folks doing it. Whereas owning the stock in competition with Wave's dilutive cash needs has been disastrous.