I think you just hit on something there, though.

There isn't an easy way to flex your status online, unless you're a celebrity, or put in the work to become an influencer.

For people with money, there isn't a simple way to come to places like HN and just be important because you have money. There isn't a way to show people how wealthy and powerful you are without contributing.

But NFT's allow you to show people how much disposable income you have, and therefore how much better you are than the unwashed masses, without needing to really do anything of substance.

Or maybe that's just my own personal bias and confusion about NFT's in general showing?