When used as a means of raising capitol to obtain necessary resources to manufacture/produce a useful product I'm often down for that (unless the product is a horrible idea). What irks me is when Kickstarter is used not as a means to fund a project, but instead a solicitation/pre-sale platform intended to deliberately cut-out portions of the manufacture or distribution chain in order to suck up more profits for the company that has other means of funding to finance a traditional product development cycle.
The ultimate cardinal sin with Kickstarter is when a "developer" pretty much just wants money to be able to take time off from having to work a regular job in order to sit around and "be creative". While there may be a specific product in mind, the whole Kickstarter process is more of an all-or-nothing proposition. The "developer" sets a funding goal and if they make it then they can kick back and try to make their product.
It doesn't take one a long time to find stories of utterly failed Kickstarters. Tenkar's Tavern talks quite frequently about a whole slew of RPG Kickstarters.
A much more reasonable approach to the whole funding creative types has been around for millenia: Patronage. In short, patronage is a symbiotic relationship where the Patron gives specific financial support and receives art from the artist, whose job it is to create.
Enter Patreon, a funding source where you get to "support and engage with the creators you love". Instead of giving out funds and hope for a specific return, you pledge a specific amount and as the art/projects are created you get specified returns. A non-productive artist doesn't get paid.

Patreon is an awesome idea and there really isn't a downside to becoming a Patron.
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