Ladybird exists and is funded because the main author is an extremely skilled software developer with a background in building web browsers.
He also built a totally from scratch operating system, and built a very productive and skilled community around it, which branched into building their own web browser as SerenityOS has an 'everything from scratch' policy. How is Serenity not an interesting feat of engineering?
You seem to call it a 'toy' because of where the development is at - this is grossly unfair criticism. By your measure, is all software that isn't at a 100% finished state a toy?
Why is it weird that a company that built their entire business on the web wouldn't want there to be a web browser monopoly controlled by an advertising company? Shouldn't you fund projects that will be beneficial for your company in the future?
I think they were referring to the version of Ladybird taking advantage of Swift v6. I agree in part that it is only nice idea until a production ready binary gets released; right now it is just experimental.