When I saw the announcement, I thought "not a chance" but the fact that, as I write, there are nearly 30,000 people who have backed it with over $3.7m in the last few days makes me wonder if it is going to go somewhere. TBH I think it'll end up for most people as being a toy they can hack around with rather than a gaming device. If XMBC doesn't end up on it, I'll eat my face*. Of course I'd love something like Mednafen to be on it too
As long as they're making a profit on the device itself I think it'll be quite interesting. For $99 US i'm even considering it myself.
It won't kill the mainstream consoles, but it may succeed where the OpenPandora hasn't, as long as they keep it cheap and can actually keep up with demand. Like the Raspberry Pi, demand appears to have far exceeded expectations, but I don't think
the RasPi was crowdfunded in advance.
I don't think it's going to carry on earning as many pledges as it has done in the last couple of days, but it does have a few established people involved in the project so as long as it's not marketed as a replacement for the Xbox 720, PS4 and WiiU, I want it to succeed as a niche device.* Not legally binding