VDFs could save hundreds of millions of dollars (this is exaggerated but let's roll with it) but they have already been invented. It's not clear how much a slightly faster implementation of their VDF is worth; maybe it's less than $100K. The Chia VDF contest had a few entries so this is not a crazy concept.

Bingo. The absurdity of this, let’s create something that by their own admission is worth hundreds of millions for a few thousand dollars and some street cred. Also, VDF is probably worth much more than that if it can be effectively done.