This probably makes sense to the parents from a financial standpoint. They have to spend money to get this kid to the top (another figure I read was well below 125K) but they stand to make much more $$$ with endorsements, book deals, speaking engagements, yada yada. I truly hope that money is not their primary motivation. One article called this adventure an ego trip for the father. I don't know these people at all and I can't judge them but that is entirely possible.
If this kid makes it to the top will he really have "climbed" the mountain if his father/guide gives him massive amounts of assistance??? I would be really surprised if he wasn't short roped to the top as are many "clients" who pay huge sums of money to guides. Is this what mountain climbing is all about? Then again it could be argued that everyone since Hillary had some degree of help to reach the summit.
IMO anyone who summits Everest, or any other big peak, but has all their meals cooked for them, all their ropes fixed for them, most of their gear carried for them, tents set up for them, and then gets personally guided to the top deserves to have their name on the summit roster but............with a big huge asterisk.
What's next, a 9 year old???? Where will it stop?
If you only travel on sunny days you will never reach your destination.*
* May not apply at certain latitudes in Canada and elsewhere.