If I awarded $1 Million to a random person every year, receiving that award wouldn't make that person more accomplished, and the award wouldn't be mentioned outside the local newspaper. On the other hand an award that gives no money but consistently awards the best researcher in the field can be very noteworthy.

What the $1 million does accomplish is make people pay attention, so everyone will much more quickly reach a verdict whether this is a price worth paying attention to. But two years is a bit quick for that verdict.