I still see major issues with both the Pinocchio and the Bae theories so if he is either of those two they are really going to have to explain away all the issues.
Yes, there are many holes to the Pinnochio and Bae theories. If he is one or the other it does open up more questions while answering just one. They say when you want an answer to be as such you will look for clues that will lead you to that answer at the see time over look some to arrive to that same conclusion. Many people want August to be either Bae or Pinnochio and will seek or overlook clues to make their theory come true. So far the white knight theory can hold true and it is closer than any I’ve come across.