As someone who just recently purchased a pledge, here are few things that made me hesitant of pledging:
1)No immedient gain. Even if I'm getting the most expensive pledge there is, fact of a matter is devs can promise anything and everything in the future(stars and planets, included), but right now, this moment, I'm getting nothing for my money.
2)Limited timeframe testing. This is partly continuation of previous point, as well as making it a sepparate issue, which is time. It's bad enough access to test servers is limited by test phases and time limit, but people themselves have limited time and when they are faced with choice of dedicated that limited time to test server or carrying on with their regular life, at their regular pace, many people are going to pick doing things at their own pace. And if that's the case, many people would not bother getting a pledge, because they wouldn't be taking advantage of it.
3)Low crowdfunding goal. Fewer money may be just as damgerous for the project as too mich of money. Many people are looking at such low stretch goals and are asking themselves,"and what exactly can they do with this little money?" Then they go to the forums and learm that the devs have investors, in addition to crowdfunding campaign. And if some investor invests money into it, why would random joe invest his money into it? And for that matter, why would there be a crowdfunding campaign? Something's too fishy here... Or, well, along those lines.
4)The stretch goals, themselves... They are... well... bland, too few and are all maxed out. I mean, just look at them? Character creation-that's supposed to be an obvious feature, by today's standards. Fishing-unless it's live bait Waterworld fishing-booooooring. Animal taming? Some are excited for it, for others that sounds like a potential grind or a chore... If it were saying something badarse, like,"TAME AND RIDE DRAGONS," then far more people would be excited for that feature. However, as it stands now- meh. And on top of that, there are no more stretch goals. This game needs more stretch goals, with badarse goals, to boot!... Maybe, something like expanded racial evolution?shameless wink
5)Not enough buzz. Too few streamers are covering this game, for too little time, when they are allowed to, for a limited time, during testing. There are no new videos featuring Fractured on Youtube and there are no news to share, so even if content creators want to help this game by promoting it-they got nothing to go by! They've already promoted it, several times and they've said all they could say about Feactured-they got nothing else left! The devs themselves are kinda, sorta silent. For example, ok-we got an update that the upcoming alpha test phase 2 is supposed to be in June(correct me if I'm wrong). So, when exactly, why people should be looking forward to it? And why should people buy into it? If devs have sonething to show, then they should send invitation to content creators and give them access to test server, earlier than the rest-an exclusive first look, of sorts, for them to start talking about Fractured, againm so that more people would learn of Fractured. And why is this here-well, because if you, by accident learn of some game that nobody's talking about, you'll be hesitent to invest into unknown.