No, US$2m is just my rough guess at an annual budget just to keep the lights on and do basic maintenance (1 tech lead, 2 engineers, 2 SREs, a community liaison, an engineering manager, hardware capex,
etc.
).
To do anything actually feature-ful (which is what everyone wants, and so where all the demand to executives will come in) would require possibly double that (mostly around treating the security concerns, plus also hiring a product manager, a designer,
etc.
).
Adding a novel file type into production is trivial (it's maybe a few dozen lines of code). Adding one in a way that random people can't take down the production cluster is intensely hard.