When I see these things, I think of all the people employed to build it and the sizable crews hired to maintain it. It is just another big vessel built with money paid to a lot of regular people that are raising families and doing normal things. While it doesn’t have a great purpose like some piece of infrastructure, its cost, compared to many more economically important things, is a mere fraction of the money spent on more socially acceptable and useful things.
The cost of this yacht applied to a highway in my state would build a couple dozen miles of highway with a bridge, and a few interchanges. I have no great faith in humanities ability to wisely spend money whether it is concentrated in a government or concentrated among the wealthy. Either way, it is powerful people deciding to do things that turn out to be wise and foolish with money.
While I am sure this yacht has a substantial set of weapons for defending itself, it will not start a war; its armament does not compare to what a government will do to equip a ship with weapons. I am not loosing sleep on how stupid rich people spend their money. I do lose sleep on how governments spend theirs.