Those who watch the anime will know that James was presented with the same offer at the start of the "SS Anne arc", and he took it up for all it's worth, essentially meaning that he bought into the "scam". After all the turmoil of the arc, however, it did evolve into Gyarados... and that also brought about the arc's conclusion (for best perceptions, please watch that arc directly). Thus, there is a certain "power" in actually buying into the offer or "scam" as it is.
For that, it seems that buying into the "scam" may just be worthwhile to try to obtain different IVs or other aspects. And then there is of course the fact that Magikarp evolves into Gyarados - which essentially puts the "scam" perception into question. It seems that it could only be considered a "scam" if the money is considered simply lost, while if it is considered to be an "investment" for the better things above, then at least some value may still be placed upon it.
With that consideration, I've essentially "bought a Magikarp" recently, though it wasn't a total nor severe loss. In fact, it did essentially amount to a Magikarp (or a few) for the recipient, so it was essentially, like the above, an "investment" in it. While I will most probably never see the "return" on my investment - or even the Magikarp evolve into Gyarados - the value that I perceive as being inherent to it keeps me from thinking too much otherwise about it now.
Although I wouldn't suggest that others venture to buy Magikarp of the realistic or imagined kind, I would say that at times it might be necessary to consider that things have happened essentially amount to as such. Meanwhile, the shady guy at the Mt. Moon Pokémon Center continues to peddle Magikarp for those looking to buy into his "scam"... or put in a sort of "investment" for bigger and better things, at least when said Magikarp can and does evolve.
One year ago: The Future of the Legends Series
Two years ago: Nobody's Perfect
Three years ago: Cosplay: MCP Mini Contest
Four years ago: The Evolution Cup of GBL
Five years ago: A Pokémon Best Friend Dream
Six years ago: Workouts, Exercise, and Fitness with Pokémon
Seven years ago: Community vs. Central Management
Eight years ago: Cosplay: Akatsuki no Matsuri
Nine years ago: Never Stop Exploring