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If this was done slowly, it could be an extremely effective strategy. Not too different from what Berkshire did with See's Candies.

Except...

1. No one dies if they don't get See's Candies

2. There are other chocolates out there

And you can make chocolates in your kitchen with ingredients from a grocery store.

I didn't mean to suggest what he's doing is good. Just that it's a common business strategy and this person applied it in a horrible way.

Most people don't want to get rich slowly, as Charlie Munger says

That's really very different. Berkshire isn't undercutting anybody in price with See's, just getting a premium for a brand name.

That is a fair distinction. I believe the common thing between them is exercising untapped pricing power.