I know that Kickstarter's policy supports this thinking, but I've always disagreed.

The thing that made me excited about Kickstarter was people doing projects crazy enough that you couldn't guarantee they'd be successful. I never got the feeling that I was buying something, or that anything could be "crowdfunding theft"'d from me. The whole point was that I was giving to a creator to hopefully make something cool.

This all goes away when you tell creators, "hey, you better know your dream WILL work, because you'll be held legally and financially responsible for it if it doesn't". It reduces Kickstarter to a platform for preorders, instead of a place where crazy things can happen.