It took me a little while to even get what this is. I understand the public votes on "the biggest problem" and then whoever "solves it" (or, I assume, makes significant progress on it) receives £1 million.

The best case is a carefully constructed short list for voting and the whole thing being essentially an orchestrated PR stunt with a winner (probably a known strong candidate even at this announcement stage). The worst case is this quietly fading out until no-one remembers it and there aren't even many real records of it ever having been a thing.

Or perhaps I've got "best" and "worst" the wrong way around there.