Let's take something like the Ouya, which in the span of 3 weeks or so, garnered MASSIVE attention and I assume a pretty good amount of money.
Weren't they supposed to release within the year?
We've only seen at best prototype hardware, meant to play smartphone games. There is no announced distribution model, nothing at all. They simply have not shown they have any way of making something like this a reality. Just a idea that many people thought was cool.
And yet people threw money at this without having any information on how this company was going to make this console actually viable and not just a single run of 10 oversized smartphones that can only play said smartphone games, which are not exactly a shining beacon of gaming quality.