[After a brisk nap]

With Kickstarter you just have to deliver the game (or convince people that you're going to). With any other kind of funding, you have to get your investors or creditors their money back (or at least convince them that you're going to be able to do so). That's much more difficult.

Who would have invested $10K in, e.g. Resonance at an early stage of development, and on what terms? You have a guy who's made a couple of solo freeware games, but never led a team before (not counting working with a composer). He's working on the game during his lunch breaks. The team, consisting of essentially freelancers, is spread all around the world and have never met in person. There's a schedule, but it starts slipping early on in production. Investors don't love that.

I have no idea if the funding model for Resonance (self-funding, getting the team to work for a percentage of future profits, Kickstarter, and eventually partnering with Wadjet Eye Games for production and publishing) is going to work out all that well for Vince in the end, though I hope so. But I highly doubt raising the money from outside investors from the start would have been a viable alternative.

Also, Kickstarter creates a community of backers, who will help spread the word about your game, and who can provide e.g. beta testing. And it provides early validation that there's support for what you're doing.