It only has value if someone else is willing to buy it. The firm or person makes money, but after that it's a crapshoot. I remember on Billions an artist drew a doodle and sold it to one of the brokers.
I'm not bothered by people doing this so long as they can afford to lose their investment. My fear is people who don't have the resources will invest in crypto or something else and find they have lost it all when things eventually go sideways.