How did 0G Labs raise a $35M pre-seed round for "AI Modular Blockchain"?

0G Labs has apparently raised a $35M pre-seed funding round with no product, no customers, and no real team. Their press release and web site looks like a bunch of random buzzwords strung together: web3, blockchain, AI, dapps. Am I missing something or is this some crazy bubble?

Like all crypto projects. it's a scam.