"low-grade waste of time".....Obviously EE had(still has.?) a different opinion and he must have been as sure as one possibly could to invest so much money.

By the way the low grade of the past is the high grade of the future,so it was definetly a low grade waste of time the previous decades but I am not so sure about it for the next decade.

But if we compare the "bidding war" and the "low grade waste of time" it seems to me the latter won up to now.