Is this just a slightly altered repeat of when LLM companies (or was it some boosters?) argued they were so dangerous and so potentially profitable the best thing would be for the government to buy 50% - 1 of their shares?

an additional 2% added at the board’s discretion for every 50% increase in the company’s value above a set baseline

Exceedingly optimistic to suggest that they haven't already peaked in private valuation (perhaps apart from any IPO pop).