A list of humans is either a contact list or a book-build

Waitlists drift. They start as “keep me informed about the product” and become “reserve my allocation.” The second object is an offering artefact. It has KYC, suitability, promotions, and data-protection consequences. It does not belong in a launch-services workspace, and it does not belong in a Mailchimp that the growth lead treats as a warm book.

If you are not offering, the waitlist is a professional contact list: name, work email, company, what they wanted to be informed about. No “how much will you buy.” No accredited-investor checkbox unless counsel designed an actual process, on actual rails, with an actual privacy notice. Checkboxes that pretend to be a Reg D process are folklore.