I like kickstarter from a developer point of view, it can bring in needed money to.. well.. kickstart a project, but in the mean time, people who see these projects and pledge might not have an idea how game development works. So when they see a game project, they might not realize the game might take years to finish, directions may change, goals can shift.
Its in the developers best interest to make these things very clear on their kickstart page. unfortunately, you have allot of indies who have no idea on how to make a game or are simply to ambitious for their own good. They put up a fancy video with them explaining their ambitious vision, and provide some concept art, and make allot of promises to get you to give them money, and its easy to imagine a full game based off those snippets of information. But even with experienced developers, who take care to explicitly state that things can change, people still fail to read and get swept away with keywords like: oldschool, hardcore, traditional, metroidvania, roguelike, etc. and blindly without even looking at trackrecords, pledge obscene amounts of money. And when things don't work out, they are the first to scream murder.
Take a look at Mighty No. 9 where they added imagery that stated explicitly that its concept art, and still people expected the game to look like that. nowhere did it say that the game will look like that, but people took the images, and the info and created an imaginary game in their head and gave money based on that fantasy.
Not only should Kickstarter projects never be handled lightly (Project developers should set up their kickstarter with allot more care, and explicitly state that everything on this project can change at any time to benefit the final product) but in the meantime, pledgers should also be allot more careful with their money.
They think of kickstarter as a pre-ordering service, investment program, or an early access program. while its certainly shares some features, its actually more like charity. You like a project and want to increase its chances for survival, and so in order for it to UP its chances you decide to give them money, and as a reward for your faith and good deed, you can get a copy of a the game in various forms, physical stuff, digital stuff, etc. depending on the amount of money you donated.
The problem with kickstarter is that its service is measured by its failures and by its poor performers.
So while the service is perfectly fine, and a good way for projects to get off the ground, the distance between developers not realising what pledgers expect and pledgers not realizing that projects are dynamic in nature, creates allot of miscommunication.