Honestly, I was expecting the punch line to be that they found it cost more in the end because it shut the blasted line down for each bad box. I'm an engineer in a plant, and frankly that just seems insane, even if localized (accumulators are never big enough!)
That is orders of magnitude more efficient than commissioning an $8M consultation, and is likely to find any low-hanging fruit such as fans-on-conveyor belts. If no one has any ideas in the first month, it's possible that such insights are not commonplace, and then you can go commission your million dollar consultation.
But the idea of setting up bounties is controversial. The arguments for and against it quickly get remarkably tortuous. I've never seen it implemented, but I can definitely say the idea is attractive. I had a coworker who would offer a hundred bucks (of his own money) to the operators who maintained stable production on a weekend run; it looks like it works, but he couldn't afford that too much.
It's often easier to spend giant sums of cash than to be clever, as cleverness is unreliable, but giant stacks of cash are accountable. (TL;DR: industry is often penny wise, pound foolish.)