Even if they do have assets, on the fAFSA they’d be auto zero based on income, so qualify for maximum Pell. On a CSS, maybe the schools won’t be so generous and count the Polo ponies as money for college.
I think this happens so rarely that it doesn’t matter in the scheme of Pell grants and who deserves them. And even in the example given above, it is not the kid’s fault that the parents don’t work and the grandparents pay for everything. Maybe the grandchild generation will get jobs and change the narrative.