The Kickstarter video game you see above is a reportedly a hoax, or a scam, depending on who you ask.
Mythic: The Story of Gods and Man was described as an "action and strategy-based RPG" and was supposedly going to be created by Little Monster Productions, a team of (fictional, no doubt) elite industry veterans, including Activision and Blizzard employees, for a Kickstarted sum of $80,000.
The problem: The artwork for their game had been boosted from outside sources,. the game's poster art was a mash-up Even the photos of the company's offices had been lifted from another site. Internet gaming detectives at Reddit discovered the subterfuge, and when called out on it, the creator of the Kickstarter canceled his project, but not before raising nearly $5,000.
While the creators of this project won't receive any money from the site's users, and honestly, their seeming attempts at a scam seem pretty obvious and amateurish, that doesn't mean the future won't hold more of these kinds of projects. Look at it this way: This clearly fake project was able to get 5k promised to it pretty quickly. If they had done even a slightly better job of faking a game, maybe no one would have questioned them, and someone would have made off with $80,000 in unearned gamer loot. Check out the video: It's like a master class in saying the kinds of things that will make gullible gamers give you money.
I'm not sure what, if anything, Kickstarter could do to prevent people from abusing their service. According to the site, those who have projects funded are expected to return the money if they are unable to complete what they promise, but there doesn't seem to be anything in place to force that to happen. From Kickstarter's FAQ:
"If you are unable to fulfill the promises made to backers, cannot complete the project as advertised, or decide to abandon the project for any reason, you are expected to cancel funding. A failure to do so could result in damage to your reputation or even legal action on behalf of your backers."
So backers could sue... but if someone is fly-by-night enough to attempt to scam kickstarter, and they succeed, I doubt they'll be an address to serve the lawsuit papers to. In other words: Let the backer beware.
I've contacted Kickstarter to get a little more detail and background about their scam prevention procedures, but I haven't heard back yet. I'll update when/if I do. Until then, let the backer beware -- research any projects you want to give money to.