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Any-who. very good theories! my personal one is:
"Sigurd was detained and fed to jeb for attempting to bomb 71-Gordion with big boom boom device. local company counter-employee union initiative was called-in to eliminate the crew."
I find this to be very believable what stumps me though is that the company decided not to remove the bomb, I mean possibly it could be rigged so that if there was an attempt to move it it would detonate but I dont think Desmond is that smart
I know the "Jeb ate the Golden Planet" theory is the most popular theory in this community but if you ask me it is isn't true, I don't believe the Golden Planet was actually a thing that ever existed to begin with (also a 2km x 2km cube is a bit small for holding a supposed planet-swallowing monster). We gotta keep in mind that the later logs mostly contain the nightmares and ramblings of someone who likely is having a severe mental breakdown and loads of PTSD, to put it lightly Sigurd at that point is mentally unwell and nothing he writes in his later logs should be taken literally.
The "Golden Planet" is probably a metaphor for the Company's all-consuming and destructive capitalistic greed in pursuit of profit. Metaphorical content/visions/dreams/etc are common within the horror genre to set seeds for lore and given that Lethal Company is still fairly new I don't think too much should be taken at face value at this point. But I do have a couple of theories:
Sigurd has definitely gone insane and likely built the drill as a way of him lashing out at the Company, however it should not be assumed that it would work or that he knows exactly what would happen even if it did work. Like I said Sigurd can't be fully trusted at that point, so perhaps it's best to just leave the drill alone.
Jeb probably isn't the main threat that's being contained inside the building. Jeb is most likely just the doorman/guardian/receptionist between you and whatever is inside. I don't doubt there is something related to an eldritch horror in there by any means, but I don't think it's Jeb necessarily.
The Company probably operates similar to the Concordance Extraction Corporation from Dead Space where they are part deep space mining/research company and part eldritch horror-worshiping cult (the Dead Space inspirations are very apparent in this game at points). I find it very likely they are the previous owner of the facilities on all the moons we go to and likely conducted a bunch of experiments resulting in "abandonment" and many of the monsters we see. Our job is basically to gather their still-useful assets in their abandoned installations for them to continue their work.
I never really found the "Jeb is tentacle galactus with pica" theory that convincing or interesting and it comes across as a super literal interpretation of the small and probably metaphorical bits we've seen. It's still very early in Lethal Company's lifespan and most theories (including my own) probably will not hold up so we'll see.