I advise caution - successful funding does not yet mean successful product. The greatest threat to Kick-starter is the strong potential for projects to devolve into marketing drives for funding followed by people running off with the money, because they have no liability.
One of the big budget endeavours will fail to come to fruition, and the entire internet will throw a gasket, and then we will see if the model is sustainable without having contractual obligations from the fundee.
I can attest to that. My project met it's goal of $25k over a year ago when the largest project was still < $1M. It was great market validation. But I was surprised at how much market validation was still left. It didn't deter me though since I know building a business is hard regardless.
I think $200k is still low enough that the market and product needs to be vetted. Pebble at $10M isn't such. Only they can screw it up themselves at this point.
One of the big budget endeavours will fail to come to fruition, and the entire internet will throw a gasket, and then we will see if the model is sustainable without having contractual obligations from the fundee.