But that's not so unusual these days, no? I'm not terribly knowledgeable in the field, but don't Amazon, Netflix, Uber and such work on this kind of funding structure?
Uh no, Netflix runs a real business with real fundamentals and do things like invest in their content creation pipeline to provide their customers a better reason to stay, and their price to consumers is set by their costs and desired profit margin, and they have run a pretty straightforward business since the very beginning.
Uber successfully turned a war chest into a partial monopoly of all ride hailing for significant chunks of the world. That was the clear plan from the start, and was always meant to own the market so they could extract whatever rent they want.
Amazon reinvested heavily while competition floundered in order to literally own the market, and has spent every second since squeezing the market, their partners, everyone in the chain to extract ever more money from it.
None of those are even close to buying absurdly overpriced hardware from a monopoly and reselling access to that hardware for less than it costs to run and doing huge PR sweeps about how what you are building might kill everyone so we should obviously give them trillions in government dollars because if an American company isn't the one to kill everyone than we have failed.