The indicative value is not the same as "the underlying". One implies causation the other does not. The underlying of tvix is the action of vix futures.
The numbers were so out of whack, it should have been a big RED flag for anyone trading this thing. More aggressive traders may have played the divergence to converge but most traders should have waited on the sidelines and found out what was going on.
Yes it's important but to let people think tvix.iv is the underlying is just plain wrong. Think of tvix.iv as fair value.