I am not aware of Taylor Swift having a podcast deal with Spotify, I understand her to have fans doing shows dedicated to her. I was saying as an example she would not have the same deal that Spotify (or Virgin in Norton's case) has.
The ITV example is a visual broadcast show, completely different to his podcast. His podcast is a bit like when you see LBT/ Talk radio etc., done at a radio station studio set up. You can take the equipment anywhere. eg. Dax Sherpard does his in some kind of loft/ barn office set up.
Editing and Reseach are the basic, basics of any podcast. They do not cost millions to do.
Even if H&M were told to do around 9 episodes in so many years, it would cost nothing near 2M to produce each podcast. So you sound like the one who is talking out your sleeve here, pretending most of the money is going on production.
Once again, you keep going back to saying Spotify are taking over, they not. It was announced they would do the production from the start.
H&M have remotely hosted summits, and been keynote speakers over the last 2yrs, so yes, they can zoom some of their material and brush them up on post-production.
As for them hosting, they are not amateurs, and have been on both sides of the microphone (yes Harry's interview of Barack could raise eyebrows, but it was meant to be lighthearted). MM herself has interviewed lots of well known celebrities including Heidi Klum, Princess Alia Al Senussi, Amy Rossum, Diana Aggron (both at the top of their game at the time what with Glee etc.) and other celebrities and they were happy with her.
If their last podcast is anything to go by, their genre will be paired down and low profile as they talk to everyday people and some celebrities about serious issues like MH etc. as per their causes.