David has done nothing but amaze us with his careful, honest and deliberate communications. I fully trust him and his product. This game is the real-deal and David's word is totally trustable.

And all of this would be meaningless if his game art, design and gameplay were nothing less than stellar! So impressed with Lagoon: Land of Druids

Another thing to keep in mind, is a lot of people launching a kickstart go into it holding back things they already planned to have in the game to add them as goals. So his initial cost of $35 most likely already took into affect many of the addons that were achieved via goals. Just like many video game developers launch a game with DLC readily available, but if you pre-order you can sometimes get them for free.

The more copies of a game you make the cheaper each copy becomes. Thus if a Kickstarter sells more copies than the funding goal, the copies become cheaper and more stuff (= stretch goals) can be included for the same price.

This is certainly the assumption. But some costs may actually increase with the success of a Kickstarter. Distribution and shipping costs are just two that I can think of, for the reasons mentioned in my original post.

David is clearly a very capable individual, and Panda are certainly experienced in what they do. So the risk is probably small. It just irks me that highly successful Kickstarters encourage their owners to keep adding stretch goals on the fly, and the cost of these must also be estimated on the fly, while the price per unit necessarily remains fixed. And economies of scale are not so straightforward to calculate. To my mind, all of this must translate into risk.

One way or another, we lucky backers are getting a lot of game here for a very reasonable price.