It's been said countless times before but it bears repeating. Ben may be correct in that there is a sizeable amount of interest in this type of game, I actually believe him. But interest is not the same is 'fund our start up to make this game'. I'd say a good majority of the 'interest' this type of game holds, those people would never throw money down unless they had a product in their hands. That's just the reality of it. People also are not going to throw money at something that's at the ground floor, no matter how promising it is. If you compare to pathfinder Online, that game is on the 30th floor. This game is still on the ground floor, with the dev team telling you they can't even leave the ground floor unless you give them money. If you have nothing to show, expect to stay down there a long time.
Everything about this KS has been bad. The planning of the tiers has been bad. The stretch goals themselves are bad. The way information has been presented is bad. The timing of said presentation is bad. Communication has been below average, at best. When they try to collect money off their site, I hope they improve on all these areas.
On the question of subs, I'd think it's optimistic if they did around 20k-30k in subs. Which to be honest is barely sustainable (if at all) for a sub based model.