I've got nothing against people spending real money on cards if they have it to burn, and enjoy it.
That said, printing multi-million dollars cards out of thin air, for players at the level of Cooper Flagg means the industry is in a downright shady bubble of money laundering, wash trading, price fixing... all of the good stuff. It's practically at Bored Apes level right now. Not good.
It?s a 1 of 1 autographed card that sold at auction. I don?t see how it?s any different than a Superman comic book selling for $9M at auction in 2025 or a rare stamp selling for $8M in 2021. People are willing to pay a premium for rare collectibles. This isn?t anything new.
It's cynical, manufactured rarity for profit. They didn't make Superman #1 with the intention of selling it for millions one day -- that happened naturally as a piece of comic book history. Rare stamps aren't a deliberate business model to drive sales of postage.
Next year they will print 100 more 1-of-1 cards and something will sell for $10M.
Yes, in the grand scope of things people are free to buy whatever one-of-a-kind thing they want, for whatever they want to pay (and possibly, they'll end up turning a profit). There is, however, a world of difference between a genuinely rare artifact and card companies turning packs into glorified gambling complete with "chase" (jackpot) cards, fake grading services, auctioneers, etc, etc.
BTW, I collected cards for decades, and enjoy them. Today's industry is just the ultimate sellout, casino style evolution.