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Many types of fraud only exist because people are "stupid". They're still illegal.

All customers are stupid relative to the manufacturer/retailer because they're not privy to internal company information regarding the product they're buying. That's why consumer protection laws exist.

I agree.

However, consumers putting down $10,000 for a promised feature with no firm deadline and severe restrictions on the said feature's portability are in a league of their own when it comes to stupidity.

Or, perhaps they are more akin to an Investor ..

Consumer stupidity is one of the key elements of many frauds.

That sounds like a cleptocracy IMHO