I wouldn't say equivalent. It's easily convertible one way, but not the other. If you have 1M you don't have to spend it in one go and can provide yourself stable life for a long time. But nobody will give you 1M loan for unspecified purpose given you don't actually have any money left after living expenses to pay it back. If you have a company, business plan, etc. yes, you can get funding/loan. But then you get it for a specific reason, not to play around with ideas of games you may or may not feel like ever finishing.
Is that the case when you have guaranteed recurring revenue for a long time? The only reason they care about having money left for living expenses is that they're afraid you'll die or declare bankruptcy. For example, it's fairly easy to exchange an annuity for a lump sum. But then the question is, what is "recurring revenue"? If it's not guaranteed then it won't work.
