In this case it seems possible that the end-product can be marketed to banks or finance business even if the kickstarter part was funded by a non-(US)compliant funding. Can still pass as a grey area.
I agree with you that it is possible, but it would require that the platform be
extremely compelling. Only in that instance will banks and other conservative, often heavily-regulated business touch anything in a gray area. We've seen how they have been very reluctant to get involved with Bitcoin, for example. It hasn't prevented a few trailblazers from venturing into that gray area, but only once Bitcoin reached a relatively enormous size and impact (relative to the apparent prospects of new crypto projects, not relative to conventional finance).