I recently got into collecting playing cards on Kickstarter. Lately, for that segment of the buying public, and producers catering to them, it has become a "pre-sell" avenue for those who want an immediate profit for a new product.
I've looked into other projects, and it does look like a viable way to raise money for new ventures, or support something you believe in. You can create new product without having to search for investors. You can know ahead of time if you will have the capital to invest, and depending on your level of pre-planning and development, you may not have to invest much more than a bit of creative energy and market research, before raking in the dough. Of course there are all levels of pre-production work represented, depending on the amount of initial capital (physical and intellectual) the person already has invested. Some obviously have a better plan than others.
My problem with Kickstarter, in general, is they have no Guarantee of completion of a project. If you invest, and are expecting a product, like a physical deck of cards, in my case, or a fancy cool new gadget, which was promised an an "award" for backing, you have only the word of the project creator that it will be fulfilled. Kickstarter does no vetting or even much research into the projects.
If Kickstarter gets their 5%, that's the last you hear of it. As soon as a project is funded, you are now dealing with the creator of the project.
Out of the 20 or so projects I've invested in ($1 - $70) I have at least 1 that I am not expecting a fulfillment of the project's obligations. They have had poor communication, and even poorer excuses.
At present, there is one project that has been in the media at least a bit. You can find more out about it by searching "Founders Deck, Kickstarter, fraud"
Buyer Beware, and all that...
Edited to add: Apparently they do not allow projects for "weapons" of any kind, though I've seen a few "tactical pen" type projects. Absolutely no knife projects, and I've searched several times...