"I’ll never understand those buying big amounts of Hive after the clear signs we are heading to sub penny next few years."
I cannot predict what people will do, but I can point to incentives they have. When Hive drops to the point that running witness nodes is more expensive than the 10% of inflation witnesses are paid, current management will have to spend money on maintaining their governance, rather than profiting from it. They aren't likely to maintain their stake when it costs them money to do so. Some or all of them will dump and run, further plunging Hive price. Same with witnesses that have continually been paid, and won't want to pay to run servers to maintain the code. The consensus witnesses will likely change a lot.
People buying on the way down will replace those that dump and run as whales on Hive, and will have the opportunity to change the code to how they'd like to see Hive managed. This is all predictable, and folks thinking ahead might even have code ready to go for the opportunity. That could be why someone would be buying as the price is dropping and headed for the sub-$.01 range. Folks that want to change things and have the ability to acquire significant stake as the price drops might well be preparing for the management changes coming.