Not sure if you are aware of Rooflyers background, but he probably has more knowledge about markets and IPOs than most people.
He's not suggesting that as a whole the markets aren't negative. But the negativity isn't specific to VA. Its just a global upheaval.
In that sense as well - there is absolutely no telling when this is going to end so from that PoV they may need to push through despite the prevailing market situation. We have no idea if the light at the other end of the tunnel is in 3 months, 12 months, or until the end of this US administration or even further. Not sure if Bain can just keep waiting for an unknown future date in time.
This might not be the most ideal time to IPO, but its still a solid company with solid profitability right now. Bain may just not get as much as they hope they would've gotten before.
Also not sure if you're aware yourself. The best time to invest in safe blue chips is when the rest of the market decides to fire sale things. Especially blue chips that hasn't had much changes to their fundamentals.
