I'd love to see "crowd support" become a more common phenomenon among game developers, but as Bruno pointed out, the likelihood of a fully crowd-funded game is very slim. There's just too much money required, even for a small-scale project, and for a completely unknown start-up with no history, it's going to be magnitudes of order more difficult to bring in any preorders at all. Take away the Grim Day preorders placed by the Titan Quest community and what have you got? (I honestly don't know, but I bet it ain't much.)
Speaking of Titan Quest, it didn't "bomb" in the classic sense - combined, TQ and the expansion sold more than a million copies and according to Bruno actually turned a bit of a profit for THQ. In most conventional measure it was actually something of a success and the fact that Iron Lore failed anyway is a real indictment of the studio system. But that's a tory for another day.