I agree completely, and I think it's disgusting and despicable. But honestly this sort of thing has been happening for many, many decades, maybe even centuries, it's just been done a lot more discreetly in the past. The big difference now is that it's so blatant.
While that might sound like an improvement (and kind of is as at least we're getting more honest), I also view it as a big regression. At least when there's perceived shame in being corrupt, people aspire to be better. When it just becomes routine, I fear it's the beginning of the end.
This is something that should be expected in an absolute monarchy, not a democracy.