Yeah, it's blown up like a keg of black powder over there. It sucks that there's as much chaff as wheat, but given that the alternatives are either too difficult to get started on (JumpStartCity) or have a sketchier reputation (IndieGoGo), what else are you left with?
There's some Darwinism that takes place there, kicking lousy projects to the curb, but there's also a lot of "sucker-born-every-minute" projects that manage to squeak in just over the very low goal they set for themselves. If someone can think of an idea, there's a fair chance that someone else (regardless of how small a faction exists) will think it's cool. If you were doing this in your neighborhood or even in your city, chances are you'd fail with such ideas, but when you have practically the entire world to draw upon, 100 backers is something along the lines of 0.00000016666% of your potential pool of backers... I'm guessing Kickstarter has something in the tens of thousands of members, so 100 backers is still under 1% of all KS members. For low-goal projects, the math is even better, since getting 20 backers would be like attracting less than 0.2% of all KS members...
It's like a joke I heard - I forget who the comedian was - about life in China. He said that in China, you could be a one-in-a-million kind of guy - and all that meant was there's 1,300 others out there just like you! (I'm sure the number had grown since I heard the joke.)
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