So like the Democratic National Convention? Everyone does it if they can afford it.
Elon investigating folks who are trying to rescue kids because he's mad he got called out for a performative attempt at helping the same kids is much more shallow. Not reasonable in my opinion for him to behave that way. I'm unaware of others like him that do similar things.
If it were truly pared down to the essentials he could have zero business model and add it’s costs as a line item on a different balance sheet. However, he’s talked about making it a Wechat which means an opportunity to collect fees for transactions made through the platform. With minimal costs, no advertising, and a decent flow of transaction fees? That could be a business with healthy enough profit.