It might just be a fiat glitch really.
For some company it is very easy to contract huge amount of debt, the kind of debt individuals can't even dream about.
If you can just take on so much debt so easily and buy a hard asset with it. Why not do it.
Treasury companies looks like a joke but so is the financial system, it might just be an inevitable step in Bitcoin adoption.
Before state themselves realise they can take infinite amount of debt and buy a hard asset with it.