Positronium is an atom with one electron and one positron. It's mass is 1.022MeV which is almost twice the electron mass: The ground-state (1S orbital) binding energy of -6.8eV reduces the total mass ever so slightly.
The ratio of mass to binding energy is very close to $8\alpha^2$ where $\alpha$ is the fine structure constant of about 1/137. This is not a coincidence: $\alpha^2$ determines how strong relativistic effects are in QED.
So just make $\alpha > \sqrt {8}$ and get a negative ground-state mass? My reasoning is no. QED is pertubative: you get a Taylor series in $\alpha$ and neglect high order terms. If $\alpha$ was large this process wouldn't work.
My understanding is that negative mass in a vacuum is nonsensical and the mass of positronium would stay positive no matter how big $\alpha$ became. Is this reasoning correct?