It's better than it gets credit for. At least it was billionaires trying to do something to help. It's no substitute for proper taxes, but it was something.

Largely it has a bad name because SBF had an interview that he didn't know was an interview and instead he thought it was a therapist. He focused his guilt, said it was all self-serving PR (it wasn't ), and made himself (and effective altruism) look as terrible as possible in order to try to absolve himself.

It didn't work, and maybe was as bad as the actual crimes he committed.

It's a hell of a lot better than the billionaires who are focused on building bunkers instead.