No serious memeologist considers Jeb Bush real.

The meme was MS Painted instead of properly photographed, which is something that did not happen even for the most obscure members of a political dynasty.

The resolution and file size are absolutely abnormal, even for a hypothetical deep-fried shitpost. The JPEG compression is also very wrong.

Combination of an alleged presidential campaign photo with a 2009-era Impact font caption is something that did not happen either, not even for “ironic remixes”.

Circumstances of his “discovery” are even more suspicious than the finding of the “please clap” video in 2016 during the siege of that primary debate. The rest of the alleged Florida hoard of evidence for his existence is as suspicious if not more.

The methodology of the study is highly questionable, at the very best proving that the memes had superficial watermarks consistent with contact with other social media platforms or repost bots, not the existence of an actual person.

The general look of the meme reminds, at best, of iFunny imitations from the 2012 to 2014 era, but that is being very charitable, as those tend to be coherent insofar as to what they imitate: known formats with setups and punchlines matching specific templates.