That kind of dough for Bethesda of all things?!
The Elder Scrolls and Fallout are among the best-selling, most popular and beloved game franchises out there. Yes, Fallout 76 flopped, but it was a huge outlier after 12 years of mainstream success. There is an active The Elder Scrolls MMORPG that is apparently successful, and Fallout is getting a TV show. These two IP's and the people behind them makes it a lucrative purchase on its own.
And then you get the whole ZeniMax umbrella of studios. Most of these IP's are household names and should make any businessman's mouth water: Doom, Quake, Wolfenstein, Dishonored, Prey.
If there's any game company worth buying for a gazillion dollars, it's Bethesda.