I'm glad they put money behind it, but dislike that they're expecting $10,000-$100,000 in risk from submissions. They hyped up the One Million Dollar Paranormal Challenge, but - as far as I can tell - that challenge didn't require the applicants to take on such risk.
I get that they want to stem the tide of low-quality submissions, but doing it this way really takes the wind out of their James Randi spiel.
With the paranormal challenge, you could say "the lack of applicants indicates they know the claim is false." With this, the lack of applicants could just as easily indicate a lack of funds/risk tolerance.