> they are actually crazy and frittering away 2B on hype

This assumes that being careless with billions can only ever be crazy.

If you're already set for life, why not gamble (including at completely irrational levels) for even more insane amounts of money when the whole thing is just a crazy house of mirrors. Yes, there's value at the heart, but there's also crazy amounts of money being funneled in, lots of opportunity for chaos, lots of chances for legal rug pulls. All of it inflated even further by a fervor of carelessness for any kind of consequences - things like the stock market are completely removed from any kind of fundamentals.

In a fun house of mirrors, that 2 billion could be 2 cents, or it could be 2 trillion. Buy the ticket and have fun!