Quick observation after having watched some Replicel/Lee Buckler interviews...
I've noticed that Buckler seems to open by mentioning androgenetic alopecia, but then immediately pivots to other treatments under development and how the company was "diversified." It just comes across as trying to quell expectations for RCH01. First you generate interest and investors in the company floating a balding cure, then pivot to the more attainable treatments.
Their other treatments are the bigger deal to most people, sadly and to be fair; they've shown superior results in their phase 1.
The tendon regeneration thing is huge, especially for sports medicine.
The skin regeneration will be their flagship treatment and is what will make that company worth shitloads; just look up what the anti-aging (skin) industry is set to hit globally by 2020.