Allow me to retort.
1st. Most magazines fail, especially in a digital age. Big difference between investment in a magazine and an etf.
2nd. People will invest in the ETF for 2 reasons. Wokeness, and greed.
Regarding wholeness. The wealthiest segment of society are homosexuals. They also are the more likely to support the LGBTQ agenda financially. Especially if they can profit from it. Furthermore the political pressure the LGBTQ community has on the market place will have many corporations willing and desiring to have some token to show theycatr lgbtq friendly. They will want to show support if for no other reason than to be politically correct, and that it can be done cheaply. They will deduct whatever cost the consulting is as an advertisement expense to get on the index. Plus being on the index will support their stock bc the ETF will be buying thrle stock supporting the pps in part by increasing demand.(to a point anyways)
Next you have people wanting to make money. You don't make money buying a magazine. But you can investing in an ETF with a unique algorithm that is outperforming the DOW.
So mr. PC guy with money, has an opportunity to both support his/her cause and make money? Why wouldn't they?
And with only $40 mil AUM required to hit break even?
And YOU have a problem with this business plan?
Sounds like someone is just feeling salty to me.