Fist of all, StudioFOW was already a somewhat established company with many recurring supporters on patreon, I don't have the exact numbers but I know they easily made 5 figures every month from donations alone, so what do they need 2 million dollars for exactly?
Second of all, the game was in development for at least 2 years before they released it and we got barely an hour worth of content on the first release. With 2 millions dollars and 2 years, they can only yield 1 hour of content? That was the first red flag.
As you would think, every release since then has been quite disappointing and lackluster. Looking at the review ratio as of late should tell you as much
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The reason is simple, they already sold the game. They already got most of the profit they would ever get for this. So where is the motivation? Where is the willingness to be creative and shoot out lots of quality content as promised? Why would they break their backs and make 30 hours of high quality content when they already sold out?
That will pan out in one of two different ways:
Either they release worse quality content over a shorter period of time in order to get it over with in a timely manner and they don't give shit how that makes them look cause they already got paid.
Or they will prolong the development for so long, it will be easier for them to work and give high quality content but we can look forward to 10 years of EA because of lazy devs who are only willing to work maybe a couple of hours a week.
I sincerely hope this will prove why crowdfunding and early access is generally a bad idea, the same reason why pre-ordering an AAA game is frowned upon these days. You don't sell the pelt before the bear has been shot.