Hindsight 20/20: there was a similar amount of hype around Segways. However, they are very expensive, large, and require training to use properly. These scooters are smaller, cheaper, and easier to use.

Either way, it’s silly to critique other people’s bets. You don’t know what they know and your money and reputation is not on the line. Does the valuation make sense? It doesn’t need to for anybody not involved in the transaction. Will the valuation need to make sense by the time/if the company goes public? Yes, much more so. But you could argue that even then public company valuations have no basis in reality right now.