Your sensitivity to an audience of retail trader/readers is admirable. That said, your advice is nearly 180° wrong.
1) You declare 'theta is not an edge'.
Theta is reality. How constructively you interface with reality versus the rest of the market may or may not be an advantage for you. As a tool, theta is always there -- never taking time off -- whether that tool cuts your hand off or makes great products is your doing. To deny reality is not helpful to anyone.
2) You observe that in selling puts, you gain all the risk, and only limited reward. This is false: as you know, both the reward and the risk of selling a put are probability-driven functions that boil down to the available strikes and the premium associated with those strikes. How the seller chooses the strike/market relationship is a choice function entirely under their own control, and whether they choose a strike more probable to be hit, or less, carries with it reward and risk implications well known a priori. They are encapsulated in that little thing we call "price."
TSLA is ~$335 as I write this -- your blanket statement would imply that selling an April 20 TSLA put at $300 ($6.50) or at $370 ($41.25) is "all the risk, and limited reward." But the market -- in another dose of reality -- declares a ~7x difference. "Yeah....."
3) Ignoring the entirely-feasible goal of lowering cost basis in an acquisition target so far as to make your acquisition at $0 (I've done it myself), you instead go further and declare "If assigned, the loss on the position will likely be for multiples of the time premium collected."
Wow.
You've sunk further. You're saying that if I buy TSLA for $335, and it falls to $250 between now and 1600hrs EST April 20, I would be *better off* in not having sold a put. By "multiples." Well, let's see how your evaluation comports with reality.Buy TSLA @ $335, falls to $250, down by -$85.00
Or,
Sell TSLA April20 $300 put, get assigned: +$6.50 - [$300-$250] = -$43.50
Or,
Sell TSLA April20 $370 put, get assigned: +41.25 - [$370-$250] = -$78.75
Your grasp of reality has the prospective TSLA owner/put-seller down by 85 bucks.
Reality itself -- bracketed ±1σ -- suggests that the trader is not "down by multiples" but is in fact materially better-off. (In fact, being down by multiples is mathematically impossible. Ask yourself why.)
4) And finally, you wish to tie a covered-call strategy to the immediate question -- an entirely false addition to evaluating put selling. The question -- the entire thread -- is about put-selling.
[there should be an emoji for "mic-drop."]
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