My intuition is that this statement is false and here is my proof.
$\exists x(P(x) \to Q(x))$
$\exists x(\lnot P(x) \lor Q(x))$ using logical equivalence.
$\exists x\lnot P(x) \lor \exists x Q(x)$ using distributive properties of $\exists$ over $\lor$.
Assuming Q(x) is always false, we simply need 1 such x where $\lnot P(x)$ is true and that makes the entire statement true. The other expression can be transformed into this:
$\exists xP(x) \to \exists xQ(x)$
$\lnot\exists xP(x) \lor \exists xQ(x)$ using logical equivalence.
$\forall x\lnot P(x) \lor \exists xQ(x)$
If we assume Q(x) is always false, the only thing that makes this true is for all $\lnot P(x)$ to be true. For example, the domain could be all positive integers and $P(x) = x \le 10$. To be complete, let's assume $Q(x) = x \le -10$.
Therefore, the lefthand side of $\exists x(P(x) \to Q(x))$ is true and the righthand side of $(\exists xP(x) \to \exists xQ(x))$ is false.
I'm pretty sure I'm right but I would like another set of eyes to see if I did anything stupid.
Your counterexample is fine.
You might be interested in another slightly more formal approach, written in the style of Dijkstra-Scholten and Gries-Schneider (see also Dijkstra's EWD1300), to find all counterexamples.
$ \newcommand{\calc}{\begin{align} \quad &} \newcommand{\op}[1]{\\ #1 \quad & \quad \unicode{x201c}} \newcommand{\hints}[1]{\mbox{#1} \\ \quad & \quad \phantom{\unicode{x201c}} } \newcommand{\hint}[1]{\mbox{#1} \unicode{x201d} \\ \quad & } \newcommand{\endcalc}{\end{align}} \newcommand{\ref}[1]{\text{(#1)}} \newcommand{\then}{\Rightarrow} \newcommand{\followsfrom}{\Leftarrow} \newcommand{\true}{\text{true}} \newcommand{\false}{\text{false}} $Let's calculate when the two sides are equivalent:
$$\calc \langle \exists x :: P(x) \then Q(x) \rangle \;\equiv\; (\langle \exists x :: P(x) \rangle \then \langle \exists x :: Q(x) \rangle) \op\equiv\hints{write $\;\phi \then \psi\;$ as $\;\lnot \phi \lor \psi\;$, twice}\hint{-- to make manipulations easier} \langle \exists x :: \lnot P(x) \lor Q(x) \rangle \;\equiv\; \lnot \langle \exists x :: P(x) \rangle \lor \langle \exists x :: Q(x) \rangle \op\equiv\hints{$\;\exists\;$ distributes over $\;\lor\;$}\hint{-- because $\;\exists\;$ is a kind of 'repeated disjunction'} \langle \exists x :: \lnot P(x) \rangle \lor \langle \exists :: Q(x) \rangle \;\equiv\; \lnot \langle \exists x :: P(x) \rangle \lor \langle \exists x :: Q(x) \rangle \op\equiv\hint{$\;\lor\;$ distributes over $\;\equiv\;$ -- to simplify} (\langle \exists x :: \lnot P(x) \rangle \equiv \lnot \langle \exists x :: P(x) \rangle) \;\lor\; \langle \exists x :: Q(x) \rangle \op\equiv\hints{DeMorgan on right hand side of $\;\equiv\;$}\hint{-- making both sides more alike} (\langle \exists x :: \lnot P(x) \rangle \equiv \langle \forall x :: \lnot P(x) \rangle) \;\lor\; \langle \exists x :: Q(x) \rangle \op\equiv\hint{split $\;\equiv\;$ into $\;\then\;$ and $\;\followsfrom\;$; $\;\forall\then\exists\;$} (\langle \exists x :: \lnot P(x) \rangle \then \langle \forall x :: \lnot P(x) \rangle) \;\lor\; \langle \exists x :: Q(x) \rangle \op\equiv\hint{write $\;\phi \then \psi\;$ as $\;\lnot \phi \lor \psi\;$} \tag{*} \lnot \langle \exists x :: \lnot P(x) \rangle \;\lor\; \langle \forall x :: \lnot P(x) \rangle \;\lor\; \langle \exists x :: Q(x) \rangle \endcalc$$
So you have a counterexample whenever the negation of $\ref *$ is true: $$ \tag{$\lnot$*} \langle \exists x :: \lnot P(x) \rangle \;\land\; \langle \exists x :: P(x) \rangle \;\land\; \langle \forall x :: \lnot Q(x) \rangle $$ In other words, a counterexample is any $\;P(x)\;$ which is true for some $\;x\;$ and false for some other, together with any $\;Q(x)\;$ which is always false.