I don't think it's true at all, but saying it costs a million dollars to do it is pretty silly. It's an engine they already have, graphics they're already using. They stick to a script and give Geoff the questions to ask. It would be pretty easy for them to do it probably.
Are you kidding?
It cost 150,000 for a skull girls character.
This will have far larger textures
More animations
More voice acting
Complex lighting
This isn't something they could slap together overnight. Getting something to that degree of perfection would take months.