I don't think the amount for promotion is big like that. Advertising for ICOs is not that big imo, for twitter, facebook and in this forum, you only need to hire a bounty manager to manage it and maybe it takes 5k-10k usd. For ads on google and social media, maybe a bit bigger. Promotion is not really cost big like what you said.
That figure is just an exaggerated one and way over exaggerated, no project developer will use such amount, that amount is more than enough to build another project if cost of building project is that cheap that they will use 1 million dollars for project and 9 million dollars for promo, if it were to be so, majority of bounty hunter would become so reach by now.
Before that bounty hunting use to pay its hunters, the highest they even budget for all their campaigns is $500,000, not to talk of now that majority of them are now stingy and would want us to work for them for penny.
