This guy's mistake is selecting too few winners and giving them too much.
If he wants to promote the field, he needs to make the rewards more broadly available: i.e., instead of 3, $3M awards, how about 300 $30,000 awards? It's enough to provide good incentive while not removing the need of the winners to ever have to work again!
That's the problem with the current economic model. A few "winners" at the top and everyone else lives on the crumbs.
Consider, those "winners" are maybe only
But the next guy below him? His reward is NOTHING, not $2M.
How about you make "winners" out of the top 50% instead instead of just the infinitesimal ever-so-slightly-better????
--PeterM
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