It's not just about lowballing the proletariat, offering a million dollar reward is reserved for people the FBI wants to be seen as a threat to national security. They can't give him the same supervillain notoriety as some Middle Eastern guy whose hideout is about to be on the receiving end of a trillion $ worth of Raytheon products. It would cement his folk hero status and they know that. They're lowballing bc the ghouls are scared of where this is going.