Sponsorship can be for the 500K in certain situations, but normally only for dependant visa with a letter from spouse, or for workcation with a letter from employer.
Apart from the 500K there should also be money somehow to live in Thailand, that is why they ask for income.
If you think 180 days is stay long term I agree with you. But normally when you have a visa wherever in the world to live long term, there is no obligation at all to leave the country
Anonieme deelnemer 443 Some here seem not to understand that leaving and re-entering as many times is not the same as living in the country and only leaving for a few minutes or days. Wen that was the intention they would not make it necessary to leave the country at all.
Your remark about the single entry for 6 months as an alternative shows you really don't understand anything about visa.
They want to have digital nomads to visit the country several times in a 5 year period, that cannot be done with a single entry visa.
For foreigners that want to live in Thailand they already have the appropriate visa for a long time.