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I think he might be exaggerating on how much he is worth and is playing over his head.

Gamblers tend to do that, even the winning ones.

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His BR doesn't even really matter that much. It was obviously enough that he could afford to take a few decent sized hits in that game before deciding to quit it. On top of that he was majorly +EV in the Big Game that was running. If he was mentally comfortable w/ the stakes then it would be crazy for him not to sit.

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I don't follow him as much as some here, but he does seem level headed. There is a perverse poker effect where good level-headed players see every downswing as the end of the world, and exaggerate their effect. Going busto on an online account probably doesn't mean much, because with the climate today I can't see a good player keeping much of their net worth online.