1. Make some of your biggest dreams come true.
2. Otherwise continue to live your life "normal"*
*maybe to new living standards, though.
I'd get some land, a stable and some horses, a small skatepark and independent energy source(s) for my home, maybe a foreign place for holiday and run/hide purposes.
No supercar(s), no castles, no seasteads, no bling, no hos, no blow. Wait... a garden of weeden, maybe. yeah, i guess
I think one thing that sinks lottery winners is that it the total cost of ownership of any item far exceeds the mere purchase price. Big houses cost a lot of money over time for upkeep/maintenance, as do Lambos. Rich people budget for this, flash rich people buy big houses for their family members then start getting hit up for repairs, maintenance, etc. Or they buy a "business" that needs a lot of capital that you shovel in because.... well you bought it.
Something to think about.
All true. They are not used to manage money and many are easy prey for unscrupulous financial advisors, personal bankers, etc. Also, many decide to be excessively generous with other family members etc... or, as you say, decide to start/buy business without having the slightlest idea of how to manage one and, what is even worse, employing family members thus creating a totally unprofitable sink hole that they are afraid to stop on time.
That way, and even without ever going into a lambos, hookers and coke spending spree, maybe even before substantially changing their life they find themselves bankrupt (sometimes without being aware of it until years after the fact).
Preserving/increasing wealth is a job in itself that requires some skills and dedication, otherwise easy comes easy goes.
That being said, I don't think the average OG Hodler would easily fall into above mistakes...
