The model works (at least for now, eventually it will die, but who knows when). They rely on social networks to lure new people. If they get one or two of every 100 new people a day to spend a few hundred bucks before realizing what’s the reality, it generates more money than regular creators. Of course, that works if you can get new people constantly to buy content.
Eventually that will stop or slow down, but they are making a ton of money with less work and some creators prefer that. They’re also not getting any younger, so they can milk this at their peak.