This is pretty standard these days, right? The people who invest in SPACs aren't actually interested in owning the target company medium-term. But someone else

This is pretty standard these days, right? The people who invest in SPACs aren't actually interested in owning the target company medium-term. But someone else is willing to put up the money, so that's fine. SPACs are not currently primarily a vehicle for raising capital, they're an alternative method for companies to go public. They have different (generally lower) regulatory requirements than an IPO, and different (probably about the same) costs in fees to the company.