How is it different from a16z writing 300m check to Neumann or countless other VCs investing in obvious vaporwares or banking on the "winner takes all" approach while burning millions of dollars every year.
It's not. Ironically, the influence of the ultra-mega-wealthy causes so much distortion and irrationality in markets that it ruins the predictive power of those markets and the ability to rely on markets to efficiently allocate resources. It's no longer a functioning system, just a game for the rich to play among themselves.