The whole idea has caused me to be wary right from the start.
I challenged the fellow in a personal email. He was good enough to get back to me with a reasonable explanation. After that, I supported his intentions in a previous Bike Forum thread. For my support, though I did not ask for it, he promised me a book. However...
No book so far. He claims to be too busy to get in touch with his backers for a project status update. He seemed to have plenty of time to hook up when he was seeking donations.
Scam? I don't know but I do know this - I, for one, would be very skeptical about buying something that I knew did not exist. It would appear that those who did buy, got exactly what was offered at the time - nothing.
I have been keeping my eye on this situation ever since day one. I am not impressed! I do, however, hope that this is, indeed, a situation of "I had no idea of how much work or time it would take". We'll see.
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"98% of the bikes I buy are projects".