I guess my post was partly influenced by this piece of information being rather hidden on their website, instead of up-front and center.
Spending a million can be justified if they manage to drag at least one useful thing out of the pile.
Then again, i'd rather see something like "Ok, you made this thing and you're fairly sure it's viable, let us help you make it shine". I've seen too many things fail where the tech and thinking behind it was solid and working fine, but a severe lack of round tuits strangled the project before it could blossom.