So true. The marketplace doesn’t understand the phenomenon because Kickstarter isn’t playing by the marketplace economics and incentives.
Kickstarter is more of a trust metric, and a social reward for creativity and innovation (Like Whuffie, though it was non monetary). Entrepreneurs commonly mistake crowdsourcing as a macro tool for startup funding (Think Kiva). While it can be that, for creative and innovative concepts, it isn’t that for startups that fall outside of those definitions, to me.