I work on (embedded) hardware and completely agree with you, with a couple of addenda. Hardware crowdfunding is a great way to check for some product-market fit

I work on (embedded) hardware and completely agree with you, with a couple of addenda. Hardware crowdfunding is a great way to check for some product-market fit, and access early adopters; it isn't a great way to fund hardware R&D, especially for commoditized goods (where pricing is dictated by competition).