How on earth anyone would think that bike is worth that much is beyond my comprehension, but lets face it ,to some people that's just chicken scratch.
For the cost of an eBay ad it's getting coverage on every motorcycle forum in the world because it's being advertised for a million dollars. I highly doubt the owner expects it to sell on ebay. My guess is he may find a buyer there though. As for the price, who knows. As you say to some that's chump change, and the bike does have a unique history.
"Look, honey. I did my best to try to sell it, but no one wanted it. Guess I'll just have to keep it."