Like the other commenter said the larger issue is the monopolization (see groq x nvidia for a glaring example) and other forms of rent seeking that clamp down on market fairness and efficiency
I think mega yachts are stupid, that doesn't mean they shouldn't exist and to act like they are the same as even 20 years ago is willfully ignorant
We've all seen the comic where the villian tells Spider-Man "I don't want to cure cancer, I want to turn people into dinosaurs." I would respect that a hell of a lot more than whatever Bezos/Musk/Zuckerberg/etc are doing with their money. Hell, I'd settle for Howard Hughes levels of madness-mixed-with-genius.
Everyone just buys the same Billionaire Starter Pack these days consisting of ugly yachts and mansions, and the obligatory rocket company. The change is just spent on aggressive hoard-management and political machinations. Is their heart even in any of those ventures? When they wake up, so they say "I spent the first 40 years of my life selling my soul so I can do this, and it was so worth it?"
I know if you dropped twelve figures in my lap, I'd be saying things like "who can I hire to help me engineer an army of superintelligent dragon creatures" or "let's level Peoria, Arizona and rebuild it as a car-free zone with the density of midtown Mahnattan", not "let's buy Yahoo, because all the other depressing media outlets are spoken for already."