Great initiative, and good to see that it has an effect. I'm a bit sceptical about the available funds. 1 million over 5 years is a nice starting package (4+ PhD students), but the availability of overall research grant money in the Netherlands has been under pressure for years and is difficult to acquire. Researchers moving here may find it difficult to acquire further grant money compared to US, at least in CS.
It'll be on top of any other grants and funding available for research though.