Its "free" PR while trying to attract investors. Doubt they will build even half of the said bullshit promises.
There is no end of stupid ideas you can generate while you are rich and unaccountable.
Besides they aren't targeting us, but similarly stupidly rich people. Although I heard no one trusts them after the whole bugging bezos phone incident.
Interesting scam^W money-making venture. "You want oil/this project? If you invest in our sand castle project, it would make us consider our business deal more favorably. Investing involves getting your logo on our website.". And so famous names or even governments might get attached to this project.
And they could get some money, tell some guys in hard hats to drive some tractors around the desert, wait a few months, "Oh, we ran into some difficulties/new economic reality, project cancelled. Your money? Hiring men to drive those tractors weren't cheap you know!" (Read: "The men were South Asian slaves but the construction company boss is driving a new Mercedes now, and hey, he's actually my cousin and we're going golfing tomorrow!")