"I would have thought $2Mn to be a suitable cap as it takes only $1.5Mn to provide more than the average wage in revenue without reducing the capital sum invested."
Current adult average weekly wage is approximately $2,000.
To earn $2,000 per week from $1.5 million, you'd need to be earning 6.9% p.a., whereas 5% p.a. is more likely, producing $1,442 per week....substantially less than the current adult weekly wage.