The fact that he said "one million" suggests that the budget would be about that mark, since he would have said "two million" if it was around two million etc.
Eh. It's more of a case of Capcom and Square Enix looking solely for a CoD-esque payday for all of their games, and ignoring the smaller and subsequently more likely to be profitable (yet less likely to make the CoD madbucks) games such as Dragon's Crown. Indeed, it's pretty much only Sega who will give smaller games the time of day, largely because its gotten itself into the situation whereby its biggest IPs are Football Manager and Total War.