Kickstarter is venture capitalism brought to the masses, and is responsible for a lot of good games being made that otherwise would never have been. The new Shadowrun, that adventure game being made by Ron Gilbert and Tim Schaffer, the new game from Obsidian, the new Tex Murphy game...the list goes on.
Basically, if you want to see an awesome game get made, you support it and the dev team with your money. Sometimes you get what you paid for, sometimes you don't. The best thing to do is research the team behind the game and see if they have a good track record of releasing things in a semi-timely manner. If they do, then go for it. If they don't, then your money is best spent elsewhere. Just because you lost some money on one donation isn't Kickstarters fault.
Course it doesn't make it suck any less, either. But...eh. Nature of the game. Sorry, man. : \
