I assumed it would be an unpaid bidder given the recent issues on getting paid for these high-profile auctions, but the article says

> He laughed when he looked at the brand who bought it and said, “It’s funny,” but didn’t disclose the name.

I bet eBay was happy with their cut on this auction if the payment is successful. If I'd ran the world's laughingstock of a festival I'd be happy for $5 branding rights, this guy has more luck than he deserves.

> It's a small price to pay for the Fyre Festival brand

Why on earth would the Fyre brand be worth anything at all?

It is probably worth something. Maybe not that price, but some price. It is infamous enough to have some brand perception itself. Might not be positive, but it does have name recognition.