Money is not the deciding factor in American elections. Hillary Clinton spent twice as much as Donald Trump during the 2016 campaign.
You can start an ad campaign against a candidate you don't like without that showing up in the campaign fund.
I also think HC had much more backing.
One could also argue the DNC was investing in raising the national profile of one of its rising stars in advance of the 2020 campaign even knowing his chances were slim.
I understood the comment to reference the special interest money behind elections not so much the total amount of money. Corporations vs. individuals.