The most deceitful thing that CIG has done is this: revised the TOS to remove (a) the delivery date; (b) financial accountability and (c) right to refund.
In the beginning, Chris Roberts set a delivery date. Yes, that was before all the stretch goals. Here's the thing: they stopped doing stretch goals at $65 million. They are now at $190 million and counting. Back when they reached the last stretch goal, it would have been reasonable for Chris Roberts to sit down and review the delivery date and update it. He could have been extremely conservative. He could have said 2020. But no, instead, CIG have quietly removed any mention of a date by which the project has to be delivered by.
Chris Roberts promised, in the original TOS, that if the project hadn't been delivered by 18 months after the delivery date, backers would received a refund of the unused pledges and would also receive an accounting of where that money had been used. Again, this could have been kept, had a revised delivery date been inserted in the TOS. Instead, Chris Roberts quietly removed any real possibility of your average backer knowing where and how his/her money was spent, should the project go belly-up.
The estimated delivery date and financial accountability are two things that any publisher - *any publisher* - would demand before agreeing to fund a game. Now, Chris Roberts knew this, which is why he put those two things in the original TOS. Chris Roberts even made *the pledge* which promised to respect backers and treat them as if they were the publisher. I hope people can see that Chris Roberts is now not treating backers with anything even remotely resembling the respect he would be required to show a publisher. In short, Chris Roberts is taking the backers for granted and is treating them as a cash cow to fund his deluded fantasy.
So yeah, the most significant thing here is not the backer's failure to win a refund, but the fact that Chris Roberts has quietly and deceitfully *altered the deal* such that backers are now completely in the dark without any remedies if the project fails. Why do I say deceitfully? Because the TOS alterations have come down as gateways to updated versions of the 'game'. Backers who wish to play the game *have no choice* but to click on 'I agree' to the revised TOS. Don't want to agree? That's OK. Chris Roberts will just withhold the very work in progress of the project you funded.
I think everyone now recognises that unless Star Citizen can be monetized (not just ship sales) soon, it is highly likely that even the stretch goals ending at $65 million will not be met, there will be no Squadron 42 (essentially just Star Citizen in a single-player campaign) and the project will likely grind to a halt.