The only 'ridiculous' part is the title.
This is a smart plan. The fact that writers don't have confidence in what the very successful engineers are planning, doesn't mean anything.
That is typical of Business Insider though. Report without the facts, or an understanding, just the belief that their opinions are more important.
Well there is plethora of underwater landed that is considered "international waters" therefore avoiding the taxation of any one country as well as skirting all but international law...