Well put. If I went 5 months off schedule and 750% over budget and then asked the bosses to finance my next project without having delivered anything... I mean... well I'd probably just have been fired at 400% over budget.
Oh, and also, backers do get tons of content all the time.
It's exactly like they took the $2.9 million and ran. I think quite a lot of people would call that a scam at that point. In the end, with an extra $2.9 million, what were they going to do with it other than make sure that the game they end up delivering lives up to the huge sum that their fans gave them?