> This forces over $30 trillion in passive 401k and retirement money to buy SpaceX at IPO valuations.

And more importantly forces them to sell the rest of the market.

Who will be on the other side of these trades? I suspect the stock market is not sufficiently liquid for all of that to happen in a single day without the rest of the market seeing a significantly depressed price, and index holders effectively gifting value to everyone else by effectively pre-announcing their large trades.