[Question] Why would Squiggle Maximizer (formerly “Paperclip maximizer”) produce single paperclip?

Every bit of energy spent on paperclips is not spent on self-preservation. There are many threats (comets, aliens, black swans, etc.), caring about paperclips means not caring about them.

You might say maximizer will divide its energy among few priorities. Why is it rational to give less than 100% for self-preservation? All other priorities rely on this.