My betting reality is a far cry from those amounts

It’s almost unthinkable to bet that much all at once, but I don’t doubt there’s an audience for that kind of bet
I think for the vast majority of players like us, we sure cannot afford to spend that amount of money on a single bet given that it's a huge sum that does not guarantee any kind of win on our part. However, be reminded that there are high/big rollers (e.g. Drake, etc.) that can bet millions at once in a single bet or night. They have all the necessary funds to fund their habit just because they have the means to do so.
You would be surprised to know that there are people who wouldn’t even think about the amount there before they click on “confirmed”.
If it’s true that the price was too high and that people wouldn’t pay for it, then they would have changed it already and make it more subsidized, but the fact that fact it’s there means that people are actually paying for it.
I definitely agree with you. The fact that they have that option means that there are people who pay that amount of money on that bet. Additionally, the very fact that it exists means that there are some people who had probably won some money out of it in the first place.
Personally, I wouldn't imagine betting that kind of amount even if I have all the money in the world. It's like it's against my nature to do so given the risks involved.