You couldn't drain the bank accounts of everyone in the Magog Cartel, although that would be an admirable aim. Besides, why were most of their targets low-level schlubbs instead of the Glockstars who would have been the prime bidders? Also, many of the bidders were Vykkers and Abe and Munch never touched them.
So no, their purpose was not to push out the opposition but to increase Lulu's wealth until he was able to enter and bid for the Gabbiar.
Why Lulu? Because a more intelligent Glukk may well have realised that he was being used.
Another question: Did Lulu only start his fund under Abe's 'influence', or was it his own hare-brained scheme?
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Spending as long as I do here, it's easy to forget that Oddworld has actual fans.
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