Why is it a stupid waste? The venerable Mr Green may have anticipated this car's investment potential - or perhaps he considered it to be art - neither notion is stupid - or wasteful. The car still exists, it hasn't been 'wasted'.
This car does worry me slightly though. I don't consider myself to be an authority on the C3 variants - but the most powerful package in 1972, as referred to in the text as what was ordered, was the 350ci LT1/Muncie M22 combo, denoted ZR1, which pushed-out a emmissions strangled 330 hp. The engine in this car looks like a 454ci LS6, which delivered an even more miserable 270 SAE net, but was quieter (hydraulic rather than solid lifters) and less busy.
Chevy built just over 6500 convertibles in '72, so this one is hardly a one-off.
Had Mr Green bought his StingRay a couple of years earlier (500+ hp ZLT ally motor), he really would have had a piece to pass on to his survivors.
As an afterthought, this car really shouldn't have been awarded all those gongs either - it hasn't been restored - just moth-balled. I'd sell it to the museum at Bowling Green - or better still, swap it for a current Z06.