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The problem with capping highly funded projects ("hits") is that they make up a pretty small percentage of the Kickstarter project space, but they get a ton of press. It varies by category, but in most of the categories, the projects doing better than 3x their goal are less than 5%.[0]

The real problem (alluded to by both the article author and other comments) is that project creators don't ask themselves hard questions about how their project will scale. Unfortunately, this is more of a problem in the Technology and Design categories, which tend to have a higher hit rate than others. Many project creators envision doing the work themselves, or using hard to source parts. The Open Locksport guy even planned his reward tiers so that he was operating at a loss for each pledge. That's just poor planning.

[0] http://tachycline.com/index.php/kickstarter-funding-rates/

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