GET HIM GONE.
I think it might be useful to set aside your bias against wealthy people merely because they are wealthy people.
Politics aside, I think amount of success Bloomberg has built from his humble beginnings (he was an Eagle Scout, btw) attests to his not being a moron.
Like you, and every candidate for office, he does have a dog in this fight, because he’s an American, apparently as sick as you are of the current disgrace in the WH. The current crop of Dems could use more voices and choices. I don’t think he’ll be nominated at the end, but his part in the campaign against Trump may prove worthwhile.