In the case of cloudflare (And many tech stocks) they had a black swan event of a large portion of the global economy going online during the pandemic which has juiced their returns.
Not saying it doesn't happen but rather that it isn't how people typically price their IPOs to generate value to the retail investor.
The best option is for the company to raise a good deal from the public markets (high valuation on limited equity) and then execute successfully without needing to raise again. If they do need to raise again they have hopefully not done a poor job on their original public IPO so that they can go back to the public markets. That said it isn't that important a factor.
Not sure where you are going with that thought. A business that isn't creating value is going out of business or selling to someone who has an idea of how to use its assets to create value.
In this current moment I would wager that if you are suggesting that you will create value in the market going forward you will get a great return on your investor dollars but you may not actually execute that value creation. (relevant news: lordstown motors)
Perhaps the company doesn't necessarily intend to create value going forward, but they must at least pretend to have that intention. What I meant was that the idea of the people buying public stock in a company is that the company will create value going forward.