Two reasons, one kind of power levely, the other from data Ralph himself shared recently. First the power levely.
Anyone that has ever done any study in public speaking, stand up comedy, or philosophical debate knows that its not just what you say and how you say it, it is the crowd you say it to. Thats kind of a messy way of putting it, but you don't have to fully unpack that to understand my point. In stand up comedy for instance, your goal as the comedian is to get the crowd to laugh. Alot of stand up comedy, or just comedy in general is in timing and crowd manipulation. Its mostly impossible to tell jokes that will 100% work and make people laugh, however, due to what we know about mob mentality/crowd psychology, we know that you don't actually have to make everyone in a crowd do something to get desired results, the rule of thumb is 20%. If you can get just 20% of any crowd to do something, the social and psychological effect of that will become viral.
Here is a short video that will detail this psychological phenomenon. So in the example of stand up comedy, you dont have to work the whole crowd all at once, you just have to get results from about 20% and the rest will follow, this is also why its almost always advantageous to directly engage hecklers because it allows you to manipulate that crowd psychology to further incentivise crowd participation in a positive way (laughter) and to disinsintivise negative reactions (heckling). So if you make 20 people in a crowd of 100 laugh, the majority of the rest will laugh even if they dont find the jokes funny because they are psychologically wired to want to fit in and not be an outsider. Ralph is low effort, but he has either figured this bit of manipulation out on his own (after all even though he never got his degree he did at least attempt to do political science as a degree, and this would absolutely be part of that lesson plan) or he just haphazardly discovered it by acident chasing money and fame and just sticking to the lowest effort way to obtain both.
Now that we have the wall of text portion out of the way, what furthers this idea in my mind is how he recently said that he had only sold 20 out of 100 "exclusive collectors edition/limited edition" t-shirts. Thats 20% of the total. So I use what I know about crowd psychology, apply it to the data available, and we come out to roughly 20% of Ralphs audience is legit, and since not all of those are financial backers, I would guess that 20% of those legit viewers and 'fans' are his financial backing, but I err on the side of caution and inflate it slightly to 1/3 of that initial 20% because again, that 20% of legit viewers and fans are the hardcore followers of Ralph, the people that for what ever reason enjoy the content that Ralph puts out. The rest of the viewers are people that just want to be a part of something socially, hate watchers, or bots.
Sorry for the effort post, but stuff like this fascinates the shit out of me and is one of the main reasons I enjoy following cows. I like applying my knowlege of different fields to them to figure out how they work.