Relevant to note that every other bid comes from the same bidder, j_s_0e6b87. Here's what I'm guessing about them:
They likely know about Hexbear, since they were bidding on the address right off the bat.
They aren't a domain squatter. A domain squatter would try to minimise the amount of money spent on a domain; and yet they're bidding too early, too frequently, and values considerably higher than the necessary to be the top bidder.
They aren't using automated tools, since the the times and values between the others' bids and theirs are too erratic.
Either they don't plan to actually win the bid, OR they have lots of money (to the point that US$710 is pocket change for them) and really, really bad blood against Hexbear.
You not believing a thing, doesn't mean it isn't happening, it only means you're either not paying enough attention, or choosing not to look, in all likelihood to preserve your own comfort. So I'll say it again - take your head out your ass, and check your privilege.
You believe one thing and I believe another. Why don't you take your head out of your ass and look around? Nobody seriously believes that nobody is struggling right now.
The other possibility is that its 2 hexbearites who are trying to save the site, not realising they are bidding against each other. Would be pretty silly if that was it.
"During this downtime we would be reestablishing access to the new domain (or hexbear.net if we win the auction), access to server ownership, and donation accounts."
That's from the We Fucked Up thread on Chapo.chat
so they seem to have had at least some intention of bidding, but that was when it was under 1k.