Choice quotes from his tumblr rant, emphasis mine:
They will kill it.
Be in no doubt. These established industry veterans, who could achieve their goals through traditional paths, will kill Kickstarter with their greed.
Do you believe for even one second that Molyneux couldn’t find that financial backing elsewhere? I don’t.
these capitalist animals, Molyneux and Braben to name but two (...) have both used the same marketing trick too. Braben goes back to the space games we always wanted him to return to. Molyneux returns to the god games. They’re both saying “HEY GUYS, WE’RE GIVING YOU WHAT YOU WANTED! NOW LET’S DO THIS THING TOGETHER!” It’s a trick. Or maybe Molyneux would call it “an experiment”. What happened to good old fashioned investment, guys? You know, where we gave you some money and shared in the risk and maybe actually fucking GAINED from it somewhere down the line? What happened to THAT experiment?
HEY YOU LOVE ME PAY FOR ME TO RECORD MY ALBUM!
HEY YOU LOVED ME YEARS AGO PAY FOR ME TO RE-DO MY OLD IDEAS!
HEY I’M KINDA SORTA FAMOUS PAY FOR ME TO DO SOME SHIT MAYBE I DUNNO WHATEVER!
What publisher would fund a CryEngine 3 space sim? A genre that's been dead for at least a decade? Chris Roberts already secured a CE3 license, which is fucking expensive, and has a stunning prototype. Is that a marketing trick? Is that worse than the I-have-no-idea-what-I'm-doing 8-bit kickstarters that look worse than actual 8-bit games?
Who would fund Wasteland 2? That one was shopped around for ages. InXile bought the license from Konami in 2003 (Konami licensed it for use with Yu-Gi-Oh). It's convenient to ignore Brian Fargo's words on this subject. Wasteland 2 had no fucking chance of being made unless it got the Fallout 3 treatment.
Same goes for Project Eternity. Publishers approached Obsidian to use Kickstarter on their behalf. From Urquhart's mouth: “I said to them ‘So, you want us to do a Kickstarter for, using our name, we then get the Kickstarter money to make the game, you then publish the game, but we then don’t get to keep the brand we make and we only get a portion of the profits.’ They said, ‘Yes’.” Not to mention that Obsidian is in a horrible financial situation.
The last god game we got was From Dust, which was more of a puzzle game than a traditional god game. That one was planned since 1999 and entered active development in 2006. It's a proof of concept for Ubisoft Montpellier's new engine. Also worth noting that I Am Alive, another rather risky Ubisoft project, was stuck in development hell since 2003. Ubi does take some risks with games like these - but then it nukes Heroes 6 from the orbit instead of making it the hit it could have and should have been. Read this shit.
The Hall/Brathwaite kickstarter was a shitty cynical project banking on nostalgia and it failed spectacularly.
And on the subject of "but these guys are rich, surely they can fund the games themselves" - that's bullshit. Look at Curt Schilling - he's fucking broke now. 22 Cans does fund a number of its projects with whatever funds Molyneux and the others have. To invest their personal fortunes would be irresponsible. Using it to cover certain costs - sure. But outside investment is needed. That's business 101.
Don't you think these big projects make Kickstarter more visible? Don't you think people attracted by them will fund other, Rab Florence approved projects?
By the way, since when is patronage bad? I also enjoy the closer interaction with the studios and devs.