Would you still go ahead with the project if you do not reach the hardcap?
I think you have confused softcap/ target with the hardcap. Hardcap is the maximum amount they can raise.
As vishesh said, the hard cap is the maximum amount we can raise. And our project does not have a soft cap as we have a minimum viable product, so the project will go ahead either way. But with more funding, we will be able to achieve bigger and better things.