This is worse than his usual grifting. He's asking people to give directly to his Paypal, so no one can see how much money he receives and there's no obligation for him to use it for the advertised purpose. He doesn't have a goal, so no one knows how much he theoretically needs. No one can track whether he's met or surpassed his goal. While it reeks to high heaven of unethical business practices, I doubt he's doing it this way to try and pull a fast one. I think he knows that he's going to get one or two people donating, and doesn't want Nick to be able to point and laugh at how low his total grift is.
Additionally, it really goes to show the mindset that got him into all his debt in the first place. Instead of starting with what he has and working hard to build his business, using revenues he receives to buy things to make his product better, and being able to justify additional expenditures by showing that his product can succeed - he wants to start off by making big purchases that may result in his videos seeing a marginal improvement at best. Someone clearly told him that you have to spend money to make money, but they don't seem to have ever gotten around to the other things necessary to making money - like hard work, focusing on the task at hand, sticking with something even when things get difficult; all the mature, adult things that come with success. Spending money is easy, so it's clear to see why that is the beginning, middle and end of T. Greg's business strategy.