He might be able to take all the profit

Yeah well, the "profit" is only for the guys who just invested, older investors certainly aren't at a profit.
So they took the risks and aren't going to see most of the profits because the investment is now much higher.
Great.
Well, I guess this is the origin of the "investors turmoil" when max profit was taken to 1/4 Kelly. Those of us who never had any doubt about "math working", and also about Nakowa coming back over and over, didn't divest, so we were hit by the big losses while we waited for math and gamblers psychology to their thing. When max profit was taken down to 0,25%, the only way to *try* to recoup quickly that losses was to multiply by four our original investment.
I did so and it worked well, but anyhow it sucks because we were forced to either a) commit four-fold the amounts of coins we were investing in the first place, or b) to stick with huge losses for long.