I believe this is how the farmers buy their crop insurance, but anyone could do it. Just that the unexpected spikes are actually rare enough that it would likely still end up in the red despite pooling.
(edit)I remember an answer back from business school, “only unexpected inflation or market movement results in wealth transfer”(wait, what about effing rent seeking!?) expected linear movement should already be priced into the market so hedging would just incur additional fees especially with a small pool.
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