You know I honestly hadn't considered the use of Kickstarter as being a market correction but I can see how people could see that being the case and don't get me wrong there are tons of "dead" franchises that I'd love to see revived. But, I find the idea of a market correction entailing subsidies from the consumer distasteful.
To me a real market correction would be increased investment in riskier more ambitious IPs directly from the publisher. As I said kickstarter, to me, seems more like a stop gap (a way for increasingly risk averse companies to further minimize that risk) rather than a much needed change in the mindset of what constitutes a worthy investment.
My immediate reaction to the Shenmue announcement was overwhelming excitement followed by an audible "what the fuck? This is a thing now?" When it became clear it was a kickstarter campaign. To me crowd funding was always a way to fund the games that publishers wouldn't not a tool for publishers to further minimize their own risk and such a use of the platform feels like a perversion to me. For this reason j don't think I could ever get behind the idea of this becoming a trend in the industry even if it means the revival of beloved franchises. I understand why others would I just can't, in good conscience, agree.
When companies are risk adverse, they are risk adverse for a reason. Last generation is filled with the corpses of dozens of companies that made riskier, more ambitious IPs that they thought would appeal to the then-current console market. Part of the reason why other forms of media have been able to succeed is because of them relying on a number of different subsidies in a variety of revenue models. Film has theater showings, as well as disc and digital releases, rentals, airings on television, streaming, and merchandising. Music has song releases, as well as albums, concerts, airings on radio, streaming, and merchandising. Even comic books have monthly issues as well as graphic novels, digital releases, and merchandising. Until last gen, video games were for the most part just a game release, rentals, and arcades. Arcades, which were an alternate revenue model, were on their way out prior to last gen and rereleases of games were generally limited to portable ports and compilation rereleases. The correction is the addition of new alternate revenue models, which is digital releases, DLC, microtransactions, and Kickstarter as well as merchandising. Remasters and PC releases are also a part of this trend in that they are about making a game have a longer tail.
As this pertains to Kickstarter, I'll focus on what publishers seem to be using it for. Remember what I said about last generation being filled with the corpses of dozens of companies that made riskier, more ambitious IPs that they thought would appeal to the then-current console market? It should be pretty obvious that many video game companies don't actually know what their customers actually want. Companies like Konami, Capcom, Sega, and Nintendo wouldn't be in their current states in the console market and MS would not have had the most horrible reveal of a console ever two years ago if they had a clue what their customers actually wanted from them. Both Square Enix and Sony themselves suffered last gen because they didn't know what their customers wanted. Do note that Sony did not use Kickstarter for Last Guardian which is going to be a very niche game but one that they control completely and thus completely funded themselves. Nor did Sony use Kickstarter for the Final Fantasy VII Remake which has potential for success because it is a remake of one of the best-selling games of the PS1 Era and thus a known quantity. Kickstarter is however being used for Shenmue III, which is the sequel to two highly expensive bombs. Shenmue is a known quantity in the
opposite direction to Final Fantasy VII, namely a quantity known to lead to high profile bombs.
It's been pretty obvious that Sony has been keeping up with what the internet would want while still being mindful of sales potential since the PS4 launch was planned, whereas both Nintendo and MS have stumbled in this regard. The Last Guardian gets funded because it is something the internet would love and is also a first-party exclusive thus serving as another reason to buy a PS4. Final Fantasy VII Remake gets funded because it is the something the internet would love and is the remake of one of the most successful games of the PS1 Era. Shenmue III is also something the internet would love, but the last two games bombed badly, so there needs to be some sign of confidence that helping out Shenmue III is worth their time and money. Kickstarter serves perfectly in gauging public interest in something like Shenmue III because people are actually putting down cash on the promise of Shenmue III despite the last two games being high profile bombs. Shenmue III would not have happened without Kickstarter proving there is an audience for it now because without Kickstarter proving otherwise, Shenmue III would be seen as a game that would bomb since the prior two games in the series bombed.