Paying to conserve the Amazon is just blackmailing yourself. Every year you're going to have to keep paying otherwise "oh no, they'll cut down the Amazon". Then once it's been going on a while, they'll start demanding more, or "we'll cut down the Amazon, and you don't want that, do you?" Unless Brazil develops some intrinsic motivation, then it is at risk. So the solution is to make the Amazon so compelling that Brazil wants to keep it.
That is true. But it's cheaper to blackmail yourself while being safe to research the forest looking for new drugs and chemicals than it is to open the intelectual properties that could benefit the Brazilian industries in preserving the forest I guess.