I'm sure it seems "entirely fine" to you but the people being forcibly moved off their land have a very different reaction. I guess it comes down to who gets the gold mine and who gets the shaft...
Why on earth would you need to do that for most things? Not everyone wants to be the next Coreweave. It sounds like you're killing a fly with a cannon to me.
As many commenters have pointed out, a lot of that wealth will disappear into the grubby hands of private-equity-owned assisted living facilities and nursing homes.
Hopefully that EVP feels embarrassed that a big bet was made that not only didn't pay off but left the company in a worse position. Some schadenfreude may be all you can expect, since this is an executive.
"Monopoly abuse"? Apple Pay was a huge leap forward in preventing credit card info theft, to the point that I only buy gas at stations that use Apple Pay to avoid having my bank account emptied by someone running a pump skimmer.