It's a common Kickstarter practice to set intentionally low goals. It makes the project seem more achievable to those pledging before the goal is met, it makes the project seem more successful mid-campaign as it exceeds the goal within a short time, and you can later brag to the press and potential customers about exceeding the target goal by hundreds of percents or more.

Look at all the successful projects of late, most of them adopted a certain Kickstarter formula in terms of goal, videos, page design, marketing language and so on. There's nothing casual about Kickstarter anymore, at least not in the big money campaign.