The thing is after Peter Thiel made him a multi-billionaire against his best efforts, he did actually put that capital into industries that desperately needed someone to prove to the boomers that you could, and should, make money in them.
There’s a whole lot to say about his credit stealing, ego, and the system itself, but the fact remains he does have an eye for talent (that he can exploit for gain)
So, sure, he was just the bankroll, but that doesn’t mean the companies didn’t desperately need that.