You're technically not even buying, since it's not a place to sell things. Even thought a lot of the projects look like they are selling items. You can read in the ToS that " By backing a fundraising campaign on Kickstarter, you as the Backer accept that offer and the contract between Backer and Project Creator is formed " " Project Creators are required to fulfill all rewards of their successful fundraising campaigns or refund any Backer whose reward they do not or cannot fulfill. "
Interesting...so it sounds like there is recourse, which makes KS more like a product order than a stock purchase. Of course the question is how much trouble people are willing to go through to get a refund, and if there is any money left in the company to issue refunds (assuming an LLC, if not they can go after the owner's personal assets).
I wonder how long it will take before a KS lawsuit reaches class-action status.