It’s an endeavor where $100 Million spent over a decade might cover your costs and get you another 1 or 2 mil profit for your troubles. With a good driver, great car, and superlative luck...
It is possible that some of them are looking at it as a way to help other endeavors with cross promotions, etc.
So far example, yeah, I might lose my $1 million investment but it is going to help me sell my Casa Azul drink for 300 million. Plus perhaps helping with tax write offs but I dont know how any of that works at those levels with jets and suites and wheeling and dealing.