He also dumped millions into propping up at risk GOP congressmen in 2018 because they were amenable to his particular take on gun control. Which may have helped maintain the narrow control the GOP have of the Senate.
There is spending in there that’s generally beneficial. But the biggest expenditures since 2016 have been pretty narrowly focused on Bloomberg’s interests and not in any sort of consistent push back against Trump or the GOP.
And his more direct, traditional campaigning for the nomination has been almost entirely anti-Sanders with a side line in anti-Warren. To the point where those strategy leaks a few weeks ago outlining his campaign’s stock responses to criticisms and weak spots included a lot of changing the subject to attacking Sanders or scaremongering about progressives.
It’s not for nothing that his first major move in his first debate was to ape GOP “communist Russia bad” attacks. His attacks on Trump have mostly boiled down to “I’m a real billionaire” and “I can beat him”, with very little substance or actual policy proposals. And even in regards to testing other candidates, there’s been very little substance to his attacks on Sanders and Warren.
He is very much openly trading on GOP and investor class fears about the rise of progressives. So frankly I don’t think all that money he’s spending is helping the situation. And I’d expect that voter registration push is more about generating votes for himself, than in generating up and down the ballot success for the DNC.