You cannot simply spend $1 Million on some online store that accepts bitcoins. Also the authorities will ask for your information from the store you purchased an item from.
Exactly.
But there has to be a way to get some of the Bitcoins spent or transferred to another form of currency.
Hackers wouldn't be working so hard to attack exchanges/ online wallets/ gambling sites if they didn't have a way to spend the money.
Some do it for the LOLZ but most are in it for the profit$.