It really depends on what's being offered, who's offering it, and how they offer it.
Tim Schafer's project was a success because he's built up a ton of good will, and time and again proven himself to be trustworthy, friendly, funny, and dedicated to delivering quality products. He was also offering a type of game that otherwise simply couldn't exist. It was the perfect pitch.
Wasteland 2 kind of rode that success, delivered a pretty good -if partially vague- pitch for another style of game that otherwise people simply would not get. It was supported by everyone who missed the old non-FPS Fallout games.
Then the crowdsource shooter kickstarter was posted, and I just saw nothing to get behind there. The market is flooded with shooters, and nothing in his pitch made it sound unique. It didn't help matters that he insulted gamers (even if second-hand) by stating he'd been told Console Gamers were too dumb to buy his game. Or that he admitted in the description he put it up entirely because of the success of the Double Fine Adventure.
Honestly though, what's really hurting it now is that certain sites are now blocking discussion of it, perhaps feeling like they've become a platform for e-begging. Currently you will be banned on 4chan if you attempt to post a link to a kickstarter page. If the projects can't go viral anymore, they can't get support.
Oh, and the whole thing lost some legitimacy with the posting of the Your World project, not to mention indiegogo's Arkh Project, which has been an embarrassment for much longer.