The usage "is the ____ Chair" as opposed to "holds the ____ Chair" isn't that uncommon in the academic world (treating the Chair as a unique title, rather than only a position). A few random examples from Google:

https://www.design.upenn.edu/city-regional-planning/graduate... Professor Birch is the Lawrence C. Nussdorf Chair of Urban Research and Education.

http://www.thelancet.com/lanres/advisory-board Professor Klugman is the William H Foege Chair of Global Health at Emory University, Atlanta, GA, USA.

http://www.bahaipeacechair.umd.edu/events/apr29-2015 Professor AMITAV ACHARYA is the UNESCO Chair in Transnational Challenges and Governance and is Professor of International Relations at the School of International Service, American University, Washington, D.C.

https://www.law.louisville.edu/faculty/interdisciplinary-cir... Professor Tony Arnold is the Boehl Chair in Property and Land Use.

https://www.american.edu/provost/human-rights/Faculty-SIS.cf... Professor Ahmed is the Ibn Khaldun Chair of Islamic Studies who studies American society through the experiences of the Muslim community.

I too thought that the 'Mark Cuban Chair to Eliminate Stupid Patents' sounded like it was situated in the 'Derek Zoolander School for Kids Who Can't Read Good.' I had to skip the rest of the press release and go straight to the White Paper.