I have to admit that my first Ultima game was Ultima Online. It was also the first (and last) MMO I ever played. I swore off MMOs at that point as they are too much of a time sink.
I was still interested when I saw that "Shroud of the Avatar" pledge, as I had fond memories of the world of Ultima. I think that focus on stuff like player housing was what turned me off. I could see the same problems as in the original Ultima Online. You buy a deed (not a house) and have to find a suitable place to actually build that house. In the original game, those places did not exist. All that player housing on every square inch of free space made the game look a bit funny, too. It clashed with the idea of the world lore, where you had cities and villages. It had a bit of the look and feel of a suburb, even if the house may look like a castle tower.
I see the same suburban look and feel in the screenshots of "Shroud", including the point you have lots of mismatched buildings next to each other. That completely destroys the fantasy feel for me. The MMO part was the main reason why I did not back this, and it seems there are lots of other reasons why this was the right decision.