I knew I remembered seeing one of these a handful of years back and it going for close to 90k.
https://www.cardboardconnection.com/...michael-jordan
I checked the certs and the number on the back it is a different one and it too has the authentic grade.
I think the comments about modern prospecting are fair but this card doesn't fall into that category. For whatever reason it has been deemed to be the holy grail of Jordan inserts and for that reason it will always carry huge value. Michael Jordan has some fanatical collectors and for good reason.
This comes down to bragging rights as like most high priced cards do.
The initial bidding had tons of false bids being placed so the 500k to 700k price seems unrealistic to me but I wouldn't be surprised to see this move up some from here. Either way the current bid is higher than the sale from 2015 so if one wants to view this as a bubble, more hot air has come into the balloon.