The core moral isse is he took in money for Open and Transparent AI and turned it into Closed and Opaque AI. That is the bait-and-switch. You're simply blind to not see it.
Elon promises Open AI 1 Billion dollars => 10% into that commitment Elon tries to take over the company. => Is rebuked by Sam Altman and co. => Elon reneges on the funding for Open and Transparent AI and walks away. => OpenAI goes to Microsoft to replace Elon's money => Microsoft gets to define terms and "Open and Transparent" is no more.
Oh yeah... and Google goes on to make Elon look like an absolute fool by proving that no, OpenAI was not falling behind Google: OpenAI behind behind is the absolutely hilarious excuse he tried to use to take over.
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I don't know how clueless you need to be to call OpenAI's move a bait-and-switch: The only bait and switch was Elon offering 1 Billion dollars as a donation, then trying to turn that into a takeover.
That's morally disgusting behavior, not trying to save your company after a petulant child tried to sink it because you didn't let him turn it into his pet.
Elon wanted to take over because he thought they were falling behind Google...
Elon thought, the company that has taken Bing from a laughing stock to a publicly recognized existential threat to Google... was actually behind.
And you're actually saying it's... morally disgusting... to not let a donation turn into a down payment on your company???
I don't even know how you misunderstand so many things at such a deep level all at once. I really hope this is satire.