I don't have research, but I have found that most people outside of the financial services industry feel that they don't have the training or qualification to read a SEC document. The SEC EDGAR website's UI and the length of the document are not exactly welcoming either. Yet, I believe most key sections of the S-1 are very readable, and the folks who put it together have put in many hours so that people who are introduced to the company's story for the first time have a easy time digesting the materials. That's why I believe they have the potential to be read more widely!