While I agree with not buying being better that giving them money. I can't agree with leadership being smart.
This thing was never going to be profitable. So they either:
a) they're actively malicious — they were never planning on profiting which means this is basically a pump and dump scheme capable of triggering some form of recession;
b) they're fucking morons for believing their own fantasies, which judging by their public appearances would track.
Former seems just as plausible, but my bet is on the latter. These AI bro CEOs seem to be woefully average at best.