The 34M$ ad signals two things:

Bloomberg is a media mogul. It wouldn’t matter if he were further left than Noam Chomsky. As CEO of the world’s largest business news corporation, he would have too much power as a candidate, let alone an elected official.

Bloomberg thinks Americans should be treated as passive media consumers to be manipulated by a one minute spot, not citizens to be informed by reasoned and substantive discussions (hence his apathy about participation in the debates). Even Trump has more respect for the voting public, and that’s not much.