In that case we are voting for what direction the game industry is going to take in the future.
So remind me what are we voting on for Massive Chalice, whether or not we want a vague tactical strategy with RPG elements, permadeath, and trait/equipment inheritance for the bloodlines that the developer would in fact want to play in their free time once completed?
And they can't just make anything - look what happened to GPG's Wildman - big NO!
Biggest thing working against GPG wasn't just the idea, but people wanted Total Annihilation 3 or Kings and Castles instead and GPG bungled the initial campaign. Double Fine taps more into the casual trendy donator, while GPG was only going to get a more hardcore gamer that honestly doesn't want innovation. They want their old game with better graphics and more awesome!
But it's different for the likes of Double Fine, InExile and Obsidian, since they are established brands.
I don't see how it is different as we have seen nothing from them that suggests their outcomes will fare any differently than if they were funded by a publisher. Sure it is easy to say that all the wrongs of the world are from evil bankers and publishers, but the reality is bad / mediocre games can easily result from the developers themselves without outside influence. Its naive to simply say all bad games stem from the publisher making them do it and is almost akin to blaming all the woes of the gaming industry on piracy.
Take Double Fine for example, they already blew through all the KS money and it was looking at other budgeting to even continue work on the game back at the beginning of the year. I guarantee if the budget gets too tight we will see a game that may be "technically complete", but just the same not very good. To be honest I only backed the min amount on the Double Fine Adventure (adventure games never really did it for me), but the progress has been slow and nothing I have seen suggests the gameplay is going to be awesome. I loved the fact they shared the dirty laundry videos, but it can't be a good sign when they are discussing why they missed another deadline on Cloud City completion and Tim Shafer is sitting in the back slowly banging his fist against his head with the "someone please shoot me!" look in his eyes.
Obsidian is known for some good games, but even in their update videos there was the admission they have a well deserved reputation for buggy games. Also are you really going to tell me that InXile's Bards Tale is the awesome game that needs to be emulated more? While Double Fine was tapping more into the hipster trendy crowd-sourcing model, InXile and Obsidian are simply peddling nostalgia. Yeah I back both of those two so I am a bad one to take advice from on being conservative with KS pledges, but honestly I see this becoming less of a new publishing model to help fund innovative / niche games into simply the first step you take with any game idea.
Step 1: Test Idea w/Kick Starter Campaign
Step 2: Use KS success as proof to get the real budget from VC money
Step 3: …
Step 4: Profit!!
Each to their own, but I have clamped down on any further KS until something delivers. Aside from FTL and College Ruled Universe no other campaign is close to delivering and those two are about a Indie as you can be.