I suspect Prosper has been ramping up its spending, more or less like Lending Club, in the hopes that its business would rapidly balloon and it would be able to cover its expenses with the increased volume and end its period of losses. Its volume has been ramping up, but slowly, nowhere near the rate it would need to begin staunching the fiscal bleeding.
Attempting to protect its assets from potential creditors in the event of bankruptcy and reassure prospective investors psychologically (whether or not its efforts would legally successful) is certainly an understandable move. Since the P1 class are a big group of potential creditors, this includes trying to shield its assets from them. Not in the P1 class's interests, of course, but not exactly nefarous.