I would be remiss to not point out the obvious mechanical design challenges here. There are over a dozen injection molded parts that need tooling and shots set up. The NRE for this project could end up extremely substantial.
It looks like this project might raise well above the $48k, though. (It's at $108k as of now.)
I recognize that this can be both a blessing and a curse when it comes to Kickstarters. With regards to NRE, though - hopefully it's straightforwardly a good thing.
The project is nearly double its Kickstarter goal as I write this so maybe that is accounted for now, but I would have guessed the goal should have been 2 to 4 times higher.