More interesting (I had to look him up too) is that he streams on a site called 'pump.fun' which is a platform where each streamer has their own memecoin that the audience buys and sells depending on his output. The streamer gets a cut of the transactions, so the bidding does have a 'value' basis in the sense that it will go up if people want to reward the streamer for his behavior. The crazier the guy, the more the memecoin is 'worth.'
Of the 1001 crypto-schemes I've seen, this one at least has a semi-plausible mechanic to it. Though I imagine it rewards the most outrageous behavior and nothing else.