"It's always blowing my mind that smart/rich people invest time/energy/money in such useless ventures"
Consider that they are trying to make money, and from that premise, they are not 'useless ventures'.
All food products are commodities: even cola, energy drinks.
Coca Cola, RedBull are by far and away brands more than they are 'good products'.
Evian water sells for 30% more than unbranded water, that's the power of brand.
From a certain perspective, of course it's useless, because it's just branded water obviously, it's in a way offensive to our sensibilities ... but it's smart.
The brand is pretty good. It's a little risky but it almost makes sense.
In restaurants, they charge you more for branded water, and they make you feel like a dolt for drinking 'tap water'. They make a lot of money selling it.
This is the 'bar' equivalent: you can drink 'tap water' like a broke school kid or have a can of 'liquid death' while your bros drink up. Then you don't look like 'sissy' (or choose your own term if that offends the sensibilities). Obviously it's ridiculous, but that's what consumerism is.
I saw this in the news yesterday and immediately flagged it to my marketing friends. It's not a stupid idea.