All politics aside, yeah, it is a lot of money for a hand-made, low volume, niche camera. But it's still cheaper than a Leica! Or for that matter (seeing as it is an F mount body) an F6. Early adopters get the bargain, but everyone gets a two year warranty.
Think of all the folks who have shied away from the used market because of unscrupulous dealers passing off worn out cameras as "Minty!". Here is a chance for them to experience film photography with a brand new unit, guaranteed for two years, though it's too bad the old Leica model of having to ship it to Germany for repair was retained (not that shipping it to New Jersey has proved to be any better). Their biggest problem with getting subscribers to the Kickstarter is that folks are starting to realize that "Nikon mount: the Nikon mount was introduced in 1959. All MF lenses and all AF lenses can be used of course fully manual without transmission of any data. " and "No batteries needed" means there is no meter system, so it will be like shooting the old original F with a plain prism before the Photomic finder was introduced.
I've thought about this some more, and have come to the conclusion that it is just not worth the outlay of funds. They are talking about such low volume that the cameras are going to be made-to-order, which of course means a high price. Even jumping in on the Kick Starter campaign is an expensive proposition, at close to $600 (I'm pretty sure all the $499 deals have been snatched up by now). And $50,000 is an awfully low target for such an endeavor, so it must be just a marketing ploy. Like someone has posited elsewhere, the first models are likely going to be unsold Kiev 19M's reworked to the new quality standards.