/put on tin foil hat
So what if.. They are using this as part of a research and marketing tool. Just a way to drum up support and do some market research without having to spend too much cash.
This approach removes a lot of risk from a business point of view.
You either hit the astronomical target and well; you have your business cases validated with a massive amount of orders or you don't but are able to easily gauge the market so you can kill it without having to risk much or see the responses as satisfactory risk to producing it anyway.
Some points that push me in that line of thought:
Indiegogo is not as successful as kickstarter for tech projects.
People will be require to part with their cash immediately because of paypal. (big barrier to funders)
Knowing the previous crowdfunding highest record was at $10.3 million.
They go and triple that as the all or nothing amount!
Knowing the barriers, do you think it is over enthusiastic, confident, silly or part of the plan?
EDIT: $32 mil / $695 = 46 044 phones they would need to sell
Yes there are many contributions already, for shipping and the cheaper funding options
Is it too much to expect to sell say 10 000 phones?
With the current figures, assuming they were to triple to make the target, they would need to sell 7500 phones. which is not too hard i'd think.