alt Hacker NewsIt is a privileged solution. And a stupid one, too. Because $1 is worth a lot more for someone in India, than someone in USA. If you want to implement this more fairly, you'd be looking at something like GDP or BBP plus geolock. Streaming services perfected this mechanism already.
This might be by design. Almost anyone writing software professionally at a level beyond junior is getting paid enough that $1 isn't a significant expense, whether in India or elsewhere. Some projects will be willing to throw collaboration and inclusivity out the window if it means cutting their PR spam by 90% and only reducing their pool of available professional contributors by 5%.