At least the company who makes their controllers, PowerA, has made great controllers in the past (I personally own 2 myself). If it falls, It probably won't be because of the controllers (like OUYA).
I genuinely think the only reason to run this hardware plan is to exploit venture capitalists.
Do they need venture capitalists? Within 24 hours, they already raised over $2.2 Million and it doesn't look like it will stop anytime soon.
I won't be surprised if they reach over $20 Million throughout the campaign, and then just open up a website for direct pre-orders.
Looking at the hardware, since the release is so far away, I wonder if they will even change it at some point.
AFAIK Bristol Ridge is little more than a Carrizo adapted to be easily replaceable by Raven Ridge. Come late 2018 they could just replace that A10 with a Ryzen 3 2300U or better, and/or if RAM keeps going down in price they might even change from 4 to 8GB.
As for the value, it's very similar to nvidia's Shield TV which sells at a similar price.
Also, I'm glad to see they at least didn't pull any punches regarding wireless capabilities (5GHz AC), 4x USB 3.0, Gigabit, microSD card slot.
The console also has a 4-mic array for voice commands, and it already has TWITCH streaming.