Well, perhaps the intended block reward was to be 1-250k, with 500k currently being the cap with double rewards? Not that it doesn't seem sketchy, but at least it makes some sense that way.
Edit:
Algorithm: Scrypt
Coins: 50.000.000.000
Blocktime: 80 secs
Blocks confirm: 2 confirms
Retarget: 30 mins
Starting Diff: 0.03
Block rewards: 1-1,250,000
Reward halving interval: 30.000 Blocks
I don't know. The comma makes it seem a bit more intentional.