1) A project is more clearly defined as something that the creators intend an eventual completion. Or, perhaps better, a project is something that has a hard ship date. A project is not necessarily successful: that is, it may fail to make that ship date. If it fails, it may fail in such a way that it never completes. That is the worst case scenario: your money went into a black hole.
2) There's a difference between crowdsourcing and crowdfunding. Crowdsourcing is a riff off "outsourcing"; it's using "the crowd" to accomplish tasks. Crowdfunding is a specific instance of this, in which the task is "give me money".
"I guess I'm not clear what the expectation of crowdsourcing is."
And this is exactly my point. :) I don't think most people are clear -- or at least can't agree -- about their expectations for crowdsourcing, including the users of Kickstarter. The only thing that seems to be clear is that a lot of funders assume that crowdsourcing means crowd-buying. Whereas a lot of project launchers tend to think crowdsourcing means X, Y, Z, what have you. There's a disconnect between these expectations.