Crowdfunding can clearly serve a useful role as part of the modern mix of societal funding sources, but it's definitely still more wild west when it comes to uniformity of terms and regulations. It's not "investing" in the classic sense but it's also certainly not "donating" either, nor is it a preorder. "Backing" involves its own set of concerns and scale and rules should reflect that, and by design it primarily inv…
Furthermore kickstarting also has these secondary effects of promotion and market research. If this thing existed would anyone actually be interested in it?
The confusion wasn't helped by the fact that some rules have shifted on these platforms over time. As I recall, kickstarter originally had a requirement of [ADDED: a hard requirement for] giving money back if you couldn't deliver--which was never very practical. Getting money from a stone sort of thing.
Backers also differ. Plenty are fine with spending a little money to be involved in something and offer encouragement. Others obviously really do view it as a preorder and get very angry if things go south.