I do see some value in it, we need to take risks with our capital and on a long term horizon it's fine.
But there has to be some rationale behind it at least, some evidence based approach.
But I imagine there's immense pressure to do so. Returns are tracked relative to others. All distorted by big jumps in valuations. In the long term, there might be a more prudent/sustainable use of some of that capital but we'll never know, everyone's chasing share price go up, not value added / profit go up.
Yes, it's good to have your finger in the pie. But the stake may be overpriced, given current behaviour.