I hate the new popularity of crowdfunding. That said, I know (and abide by) the first rule of business: never spend your own money.
However, I would be very interested in seeing metrics the percentage of successfully funding projects which ultimately didn't deliver, or delivered a sub-par or delayed product.
Additionally it irks me which folks get funded for a project, and the end up charging for it, which ultimately makes their start up cost zero then they profit on other digital sales (for reference I'm talking about the Simple Brackets app). I'm sure its a fantastic app - but they asked for $10k and then still charged $1 (for the general public), and that $10k was free and clear the 30% App store rake. Oh well, guess I'm just jelly.
Crowdfunding is not a loan - you're basically asking for folks to pay for the non-recurring costs and get the money (with no refunds in the event of failure. Kickstarter probably takes a percentage). If it was a loan that was paid back, then I'd be more apt to start backing stuff, and it'll likely reduce fraud because everybody has skin in the game since they'd be on the hook. Kind of like Kiva.