<p>This paper argues that prospect utilitarianism fails in its promise to offer attractions to utilitarians, sufficientarians, egalitarians and prioritarians alike once we shift our focus from the static allocation of social resources to the dynamic distribution of social burdens. While prospect utilitarianism appears appealing in one-shot “lifeboat scenarios” - where maximizing the number of individuals who reach a sufficiency threshold seems intuitively compelling - it has the potential to also deliver deeply counterintuitive and regressive outcomes in ongoing cooperative contexts. Through its appeal to iterative “shipwreck scenarios”, this paper shows that prospect utilitarianism can structurally require the worst-off to bear the heaviest burdens, effectively institutionalizing a form of functional servitude. Despite its claims to the contrary, when evaluated as a rule for long-term social cooperation, this paper concludes that prospect utilitarianism as currently formulated cannot secure the support of egalitarians or prioritarians.</p>