This was a dishonest advertising stunt. The billionaire in question is a major investor in the infosec company that sponsored this commercial. They clearly coordinated with him no to demonstrate legitimate vulnerabilities but rather to promote a product, see https://www.wsj.com/articles/digital-security-startup-backed...
In the linked thread, they clearly mentioned that he's an investor in the company:
> Well, a few months ago @Aura_Protects reached out and asked me to show them how I hack – and who better to demonstrate this on than their investor Jeffrey Katzenberg?
The fact that he consented to it is also mentioned in the thread. How is that dishonest? I personally think the attack is interesting on its own, using a recent vuln that was widely reported in the infosec community.
I personally think the thread is more interesting than the video anyway, which is why I linked it. (Also, in the YT video's description, they mentioned that he's an investor in the company.)