Eh, I understand why people would complain but it makes perfect sense to me for him to do this. I mean, he's not asking $1,000,000 from each individual customer. He's attempting to acquire $1,000,000 worth of investment so he knows he has a player base. As people here have demonstrated, he's not exactly universally loved. Before he dumps a sizable chunk of personal money into a guaranteed flop, he's making sure there's actually interest in the game he's building. I mean, Ultima IX was over a decade ago and the people who remember it are still bitter.
If you're not interested, don't invest. If nobody's interested, nobody will invest and the game won't get made. Not because this $1,000,000 is critical to the game getting made, but because if he can't get $1,000,000 in interest based on his name and this basic idea, it's unlikely he'll get the significantly larger numbers needed to make a profit on the finished product.