Of course, didn't original Amiga developers burn through 7 million 1980's USD developing the Amiga? That's probably about $20m in today's money.
Have the Natami team burned through $20m developing their superAGA and 68k replacement and all their other work? I highly doubt it. Sure the Natami may never see the light of day, but assuming it does. It shows what could be achieved.
I wonder what the development costs have been for the X1000? I bet it's only in the tens of thousands.
I seem to remember him mentioning £200,000 so far spent on the X1000 in one of the videos floating around. One of the reasons it's so expensive.