This is a very specific form of writing. It is kind of, but not quite journalism, not quite fictionalization, and not just an attempt to influence other market participants.
The author is trying to tell the story within the form - A Titan of Finance is making a Bold Bet with big implications for the little peoples' 401Ks!
Various folks with input to the story all have their own angle and want to steer it to their advantage. Everyone outside the story who is paying attention can see the bubble, but have the same problem Burry has - the old cliche about the market staying irrational longer than you can stay solvent still applies.
So little investors have skin in the game but very little range of motion other than getting out of the market. Big players are betting against bubble blowers, which means they need their story to "win" on a timeline that doesn't lose them a ton of money. Meanwhile OAI, NVidia and similar grifters are sucking Tubby's stump in hopes of a bailout.
It is all high drama, with lots of players trying to influence the story. Think of it as multiparty participatory propaganda trying to steer things, with the eventual outcome determining how many Grandmas have to switch to dog food for dinner.