Famous models on yachts! Exclusive island once owned by Pablo Escobar! Blink-182! Those were just some of the selling points for Fyre Festival, a supposedly opulent music weekend that was scheduled to begin in the Bahamas on Thursday, with “first-class culinary experiences and a luxury atmosphere,” along with performances by G.O.O.D. Music, Major Lazer, Migos and more. Promoted by Instagram influencers including Kendall Jenner, Bella Hadid and Emily Ratajkowski as a never-before-seen V.I.P. event, the gathering — with weekend ticket packages starting around $1,200 and topping six-figures with extras — was supposed to compete in an increasingly elaborate landscape of...