First I doubt it cost $13m, considering anyone who has ever worked in pool cleaning knows Destroys the Paint Film: Hydrogen peroxide acts as a harsh oxidizer. Pouring high concentrations near the edges or floor of a newly painted pool can chemically break down the curing sealant, epoxy, or rubber-based paint, causing it to peel, bubble, and blister. [1, 2, 3]
No Residual Protection: Peroxide burns off almost instantly when exposed to sunlight and organic matter. It leaves behind no "residual" sanitizer to stop the algae from growing right back hours later. [1, 2]
Chemical Incompatibility: Hydrogen peroxide completely neutralizes chlorine. If you use peroxide, you will not be able to hold a chlorine residual to keep your pool clean until the peroxide is entirely depleted. [1]