My full take away from the situation was simply that they had bad business sense and burned through cash on a several bad decisions, then hoped to pull success from the jaws (or more realistically, the stomach) of defeat, so made ridiculously upbeat postings in an attempt to hand wave over the cracks in the project.
It was a risk; I took it on. Not my most expensive bad investment by far. I checked out of monitoring the Kickstarter feed once it became clear that it was going no where. That was well before the final gasps from the ZPM people.
I'm glad that Kickstarter has pushed projects to post risks, avoid renders, etc. None of that would have mitigated the bad-businesspeople issue, however.
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Edit: To make things clear, I really don't hold a grudge on this. I threw money at some clever ideas, but we all know making them happen at scale can be hard. They didn't handle things well but I felt that the hugely negative response was largely an overreaction.