Could SpaceX "catch-up" to its own valuation if it raises enough capital from the IPO?

Seems like there is a consensus that SpaceX is overvalued.

But if it issues the shares, at an insane valuation, and uses that cash to fund its own research, could it get a good ROI on that investment?

I'm probably gonna put around 3% of my portfolio into them just for exposure. On the hope that my money is spent on the company's expenses. Not just exit liquidity.

Even with the current balance sheets, at this valuation it could just issue shares for years without much shareholder dilution. The hope is that the investment pays off.

I guess the broader question is, can an overvalued company like SpaceX take real advantage of its overvaluation to "fulfill its own prophecy"?