That may or may not be true. Indiegogo (unlike Kickstarter) offers a flexible funding option which lets fundraises keep what they raise, regardless of whether or not they meet their goal.
[EDIT] - Never mind, just saw the fixed funding underneath the fundraising target :)
As a successful crowdfunder myself, I almost cringed when I saw how many "rules" this campaign was breaking. Extremely high fundraising goal, long video, and almost no compelling reward options for people who love the idea but don't have $600 to spend. However, I think they've done at excellent job of understanding their target market. They know that early adopter/open source community relishes cutting edge hardware and a chance at becoming a consumer test group for the next step in mobile computing.
Additionally, they explain their thought processes around how they will choose the display and camera specs, which is much more powerful than explaining what the specs will be. I truly feel like I am funding an intelligent group of decision makers rather than a large scale manufacturing process.
I can't wait to see the results of the campaign and to hopefully have one of these phones in my hand!
[EDIT] - Never mind, just saw the fixed funding underneath the fundraising target :)