That comp number is apparently as-of 2021 and it was explained in a post by the CTO https://oxide.computer/blog/compensation-as-a-reflection-of-...

Certainly odd but not out of the ordinary for a small Bay Area start-up where the Founders have a ton of cash and the focus is mostly on what they personally want to do. Posts like these are b/c the Founders want to hire 1-3 people who fit exactly into alignment with them.