I can bet you that one of those bid bot owners was responsible for the insane bid to, of course, cause a loss for all the bidders at a particular point of time. It is like the bookies engaging in match fixing to cause an extremely unusual outcome and profit greatly from it.
The other reason why such bullshit, as you put it, happens is because most folks on this platform bid blindly without using the bot tracker site. If they did, they would have avoided this madness. Regards.