I have never gone the KS route and I have so much games stuff that it is highly unlikely that I ever will. Having said that, I would not rule it out entirely. I view it in the same light as stock market gambling. Invest what you can happily write off as a total loss without a thought, IE only what you can afford and would have spent on trivial stuff. Only do so when it is something that you really want to see out, IE no impulse buying. Once the money is sent then regard it as totally lost. If, as more often than not happens, you get it then great, if not it was a gamble. Just don't automatically expect to see something like when buying from a (e)retailer.
Of course you can reduce your investment risk by checking out the company and the participants history and all the other things that you should check, but in the end it is an investment (IE gamble) and as with all investments crap happens, including as dlazov found, the death of a key mover.