Is he trying to purchase it? Absolutely. But, as he said at the debate, there’s a great cause behind that expenditure — his determination to deny Donald Trump a second term — and his funding of his own presidential bid at least means he’s beholden to no one.

That logic didn’t impress the other candidates onstage, though Buttigieg arguably showed Bloomberg some mercy by denigrating him and Sanders together in one stroke. He called them “the two most polarizing figures on this stage,” one of whom thinks that “capitalism is the root of all evil” and the other of whom thinks that “money ought to be the root of all power.”

“We shouldn’t have to choose between one candidate who wants to burn this party down and another candidate who wants to buy this party out,” Buttigieg said. “We can do better.”

That line was obviously scripted but no less fascinating for it, because it affirmed the nutty extent to which Bloomberg, by dint of financial swagger and aggressive public relations, has created the narrative that he is the obvious moderate alternative to Sanders and the most fearsome adversary for Trump. There’s no real proof yet of either. But it’s a notion with enough currency that Buttigieg, who actually leads the Democratic contest so far in terms of accrued delegates, felt the need to chip away at it.

Bloomberg sure seemed fearsome, at least before Wednesday night, and while money is a principal reason, it’s not the only one. Much of his 12-year record as a three-term mayor of America’s most populous city is commendable. He built his phenomenally successful business himself and, having done so, channeled a significant fraction of his wealth into philanthropy.

He mentioned all of that during the debate, albeit in a manner too rushed and too flat, so that the good of Bloomberg receded behind the awkward of Bloomberg — and Bloomberg can be awfully awkward. As someone who admires much about him, I found myself cringing again and again.

Maybe Bloomberg never stood a chance, not given how prepared his rivals were to tear him apart and the particular exuberance and eloquence that Warren brought to the task. She savaged him not only for his mistakes but for his explanations of those mistakes, so that his apologies were all but erased.