It’s a bit of both actually.
He’s a very Barnum-esque conman. If he’s breathing he’s lying, and if he’s lying he’s trying to sell you some snake oil. And thanks to America’s celebrity culture he’s able to do it a lot easier than it should be.
But on the other hand there’s the, to put it frankly, WWE aspect of politics nowadays. Take my dad: love him and all but he’s a MAGA retard. Couldn’t tell you how many branches of government there is let alone what they are/do. But he can tell you how funny it was when Trump called Kim Jong Un “Little Rocket Man”. He can tell you how in stitches it left him when he talked about Arnold Palmer’s dick size. He can tell you about the infinite wisdom of Fox News’ Jesse Watters when his sole contribution to the network is to constantly interrupt his female co-hosts to make a dick joke.
There’s many gears working to explain just how we got here, but social apathy and boredom are one of the biggest right now. It’s not a coincidence how on the other side Bernie Sanders or AOC et al are immensely popular too: they can actually put on a show while they offer you legit cures for societal ills! Compare all the above to the dinosaurs of both parties who actively suck the life and energy out of everything anytime they speak and yeah, being entertaining goes a lot way.
And that’s all real life stuff. I’m still bemused over the fact that online discourse - which unfortunately does bleed into real life discourse, look no further than both JD Vance and Musk being human shaped 4chan posts - has regressed so far that well reasoned and cited arguments are less effective than embracing your inner Palpatine and drawing yourself as a Chad and your opponent as the Virgin.