First half is some ranting about Chompsky. Then we get into the meat of it:

> This theory started showing its limits when Bernie was defeated by Biden despite having a much bigger war chest.

This is some guy who claims that there is no oligarchy because he doesn't see evidence of it in the outcomes of elections vs recorded spending. Specifically, focusing on Bernie's failure to get the nomination over Biden (notably ignoring the previous election cycle).

I don't know how to characterize this other than a willful blindness.