Spoilt absurd pipe dream with no source of income (8)

I believe the answer is:

pampered

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'spoilt' is the definition.
('pampered' can be a synonym of 'spoilt')

I can't explain the rest of the clue.

(Other definitions for pampered that I've seen before include "Indulged; spoilt" , "Rapped me for being petted" , "Did baby" , "Warwickshire cricket ground" , "Spoiled" .)

I've seen this clue in The Telegraph.

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