Since those regulations apply to sales, a joke entry that doesn’t sell is just a waste of money.

I doubt this is a joke entry by any means.

As many legacy brands, Ferrari is looking to refresh itself in order to stay relevant to a new generation of buyers, and not "die out" together with their existing customer base. They need to do this rather sooner than later while still standing on a pillar of good legacy identity, to not end up like Jaguar does...

What is the "EV game"?

They can easily afford to pay the fleet emission fines even if they apply to them (I'm not sure since they are a small volume manufacturer and there might be exceptions for them). And they have produced hybrids since 2013 already.