Right, if a customer believed BTC was at all likely to under go a major loss in value they'd sell some or all of their BTC and certainly not buy an expensive producing machine.  

Keep in mind HF's refunds only kicked in if they delivered more than two months after their "target" dates. Even if you were crazy enough to think that buying a mining machine was a good way to hedge against a decline in BTC valuations, and somehow misunderstood HF's multiple statements to Batch 1 buyers about their terms, a HF purchase would not have been a good buy for that purpose... since if you believed HF you were likely to receive the machines.

It's also worth pointing out that HF's competition was offering product at less than half the price per GH/s (which was later, but still during batch 1 sales, changed to _one fifth_ the price per GH/s), but without the suggestion of October delivery or a full refund of BTC paid (although the promise of a hashrate bump for very late delivery).