I'm guessing PP (should this stand for PoopyPoker, PissyPoker, PansyPoker...?) is doing this because like you most people paid somewhere between $6 and $300 to get there, and this way they can advertise a million dollar payout and a whole bunch of players get to be excited at winning a few bucks.

If you can sell your entry (which I doubt) you could probably take the money, invest it all into high buyin online tourneys, and make quite a bit more money. For the buyin alone you could play 20 or so $500k guaranteeds.

Will

P.S. If they want to have a $1 mil guaranteed first prize, let 'em take it out of the unbelievable amounts of rake they're making from this thing.