I totally disagree, sounds like you work in Wall Street. Your argument defeats the purpose of a minimum total pledged, and is pure internet speculation.
Companies and individuals go to Kickstarter to create great products - that can't be financed in no other way (bank debt, VC capital, etc.).
More capital (pledges) result in more orders, more inventory, higher working capital and a production/logistics nightmare. None of the hardware projects/companies I've seen to date on Kickstarter have the required infrastructure to handle "as much capital as possible" or as many orders as possible.
These businesses come to Kickstarter for the purpose of getting as much capital as possible to seed their projects.
Just because it is not implicitly stated doesn't mean that the business owners do not have that motive. Just because some business owners cannot scale effectively does not change their original motive. Just because you would personally run the businesses or the website different does not change the motive.
I'm not going to waste any more time having a speculative "internet argument" with you on this.
