I had the idea, but didn't have all the resources! I spent two weeks trying to patch something together but couldn't get it to work.
If only we had met...!
That said, I think RedLaser as it exists now is a "one time thing." It's a product, not a company, and they're going to have to pivot into something more sustainable than "download this app."
So $1MM is great, but not as great as $1MM/year.
Microsoft manages this by charging for frequent and expensive upgrades, plus OEM deals. That probably won't work for an iPhone app.
There are lots of interesting ways they can go, however, so I am a little jealous that they're in such a great position.