The Arrogance of Michael Bloomberg He thought none of his stances would matter if he just spent enough money. Martin Longman, Washington Monthly

Yet, Bloomberg somehow thinks he’s a good fit for this party and this time. Any objective observer would disabuse him of that notion, but he believes he can just overcome dissent with money. I don’t know what offends me the most, the idea that his ambition should cancel out the values of the Democratic Party or the idea that people are so suggestible that paid advertising can cause them to abandon their principles.

Bloomberg has always treated party affiliation (whether Republican, Democratic, or independent) as a matter of strategy rather than principle. Now he appears to believe that he’s the only person who can beat Trump and that he can simply spend the other candidates out of contention and Trump out of office.
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It might have worked for Bloomberg if he didn’t have such a public record of being terrible on the things that matter to the left, but it was the height of arrogance for him to think that none of that would matter.