If tarsnap has even a modicum of popularity, thanks to these prices it would be bringing in bank. If he's making bank, that means he's providing value (even if it's just to "uninformed"). And it seems this system mostly runs itself, so it's a side gig. It's probably a far more effective allocation than many other possible allocations of human capital.
How many of the world's best and brightest are doing all sorts of busywork? At least Colin has some time to do whatever he wants to do while running tarsnap.