I mean it isn't but sort of is at the same time. It firstly depends on what kind of kickstarter it is. There are many ways where its just a system for a publisher to gauge interest in the project. Those are typically just preorders however many others are just throwing money into a well and hoping something comes of it. I get people's hatred of crowdfunding and it can easily be a trap. Where a ton of people are just there to get the money and leg it or who are simply too incompetent to use the funds properly. Hell even experienced developer can be too incompetent, double fine studios/Tim Schafer is a poster child for this. While I love their work, they had a horrid run with crowdfunding and I guess it should have been expected since they are always late and overspend on their budget when they were working with publishers.
Now with all the negatives said, I think crowdfunding in all its forms can lead to wonderful project that simply couldn't have existed due to a lack of interest by publishers. Hell I doubt we would had Baldur's Gate 3 without crowdfunding and this isn't talking exclusively about BG 3 since the Divinity Original sin games really got the ball rolling for Larian Studios. Crowdfunding can lead to the rebirth of genres once thought dead.