My biggest issue with most game-related Kickstarter projects is that it seems like they ask for too little, and are almost destined to failure. ...or the creators know the money is too low, and they're hoping for either outside investment or presales such as Steam Early Access. That isn't too bad, but at times, they aren't entirely clear on it in their risks section.
Fortunately, I've had pretty good luck on Kickstarter... even outside of games. I think the only straight-out failure that I had was LinguaLift's Fluent Panda app, which was meant to teach foreign languages to the end user, and then it transitioned to a tool to teach English to developing nations. They ended up giving out a free year of service to LinguaLift, so it wasn't too bad. In some cases, there are games that are presented one way, and end up not even looking like the concept art. An example of that would be Mighty Number 9, which had a nice, cartoonish, flat design that I found rather appealing. What we ended up with in the end looked a bit more like the PSP's Mega Man Powered Up!. (Amusingly enough, the new Mega Man 11 has the same style as Might Number 9's concept art, and based upon Capcom's videos, it's actually being created that way.)
Probably the most accurate Kickstarter that I backed was Battlechasers: Night War, and that came out looking like the concept art and playing fairly well. The only complaint I had about that one is that I assumed the game would be more like a JRPG since that concept was referenced a bit, but even as Joe Madureira says in the
Gameumentary documentary, it was meant to be more like an ARPG (Diablo) meets a JRPG. It's not bad, but I remember playing the beta demo, and being confused that I was just sort of dumped into a story.
I've also backed board games and such, which usually turn out just fine. There is an ARPG (
Last Epoch) that I'm considering backing. I'm somewhat interested in playing it, and a part of me also like supporting eager developers. The game does have a demo, which is a huge boon over most Kickstarter projects, but their asking price is kind of low.