Totally this. Kickstarter is for, well, kick-starting things. It's not meant to be a business model. If you're already a million-dollar company, and you can't bring a new revision of your product to market without crowdsourced funding, maybe you're not doing it right.

> Pebble sold you a device, everyone else sells you an ecosystem.

Pebble actually had the full ecosystem going, app store, online integration, accessories, the whole hog. So much so that (for me at least) it was actually a /bad/ thing. I don't want my smartwatch to be a portal into web services and a means of datamining my life. I don't want a subscription to a watch service. I just want it to be a watch that I can program and that can talk to my phone.