Isles of Eventide isn't exactly new, and I wouldn't call it "cool" considering that their Kickstarter is actually just trying to rob you of your money (I'm not hating on the game, though).
It seems Skulleh already explained. If an owner of a game wants a team to create their product faster, they're going to need big money to pay these people to work for them. It wouldn't cost much at all if they decided to make it themselves, but it would certain take MUCH longer. Or even if a developer wants to make a game by themselves without a team and put all of their time and energy into it, they could possibly quit their job and use the money to live off of for the time being (if they don't care about their job ofc). *shrugs*
I can definitely see people scamming for easy money though, so being skeptical is perfectly understandable to me.
Isles of Eventide is not an IT server, it is a full-scale MMORPG, of higher quality than World of Warcraft.
I'm not sure what you mean by "higher quality" in your statement...
Realistic graphics don't make a higher quality game, if that's what you were referring to. A high quality game takes much more than just graphics. For instance, how a game handles its graphics and function, lack of glitchiness, ability to handle mass amounts of players, a logical and easily understood GUI, and enjoyableness to a large crowd. WoW is a very successful game and considerable high quality. It might not have top notch graphics, but what they have works well with a large world and millions of players. Blizzard in general puts a lot of quality into their games.
A MMORPG with high end graphics I would like to mention is Vindictus. It is realistic, detailed, and perhaps even mesmerizing. Does that make it high quality? Not necessarily. The high graphics call for a powerful computer, which not everyone can afford, meaning they get less players. The game is also glitchy, lacks story, and is repetitive.
The only reason I like about the game is the controls, how powerful I feel when beating everything up, and the aesthetics (although fashion on that game costs real money). Otherwise, I rarely ever play it. Most people play Vindictus for the aesthetics, or they're obsessed with getting all the useless achievements and being the top player. Or they enjoy grinding dungeons, even if it is super repetitive. Not many people stay, and the game's team has to keep making new characters/battle classes to bring people back (player characters are premade like WoW, but has considerably more customization).
I don't have much to complain about WoW, to be honest. I have no problems with it whatsoever. I wish there could be a little more player character customization, but that's about it and it's not a big deal. Otherwise, the game is very entertaining with smooth gameplay and a lot of things to do. That is why so many people play it. It is very successful with little to complain about, and that's what makes it high quality. There's a reason why it's the most popular MMORPG.
Not to mention that there are a few things I don't like about Isles of Eventide from what they presented that I would consider bad quality. Their model animation, for one. Even WoW has better animation than IoE. And hopefully IoE can handle graphics and mass amounts of players much better than FH, which really bothers me (but it's understandable considering how quickly it was made and the sheer fact that it was made with OGRE, which is meant for learning rather than making a an actual game out of). There are so many things to consider that are unknown with IoE, so calling it "high quality" while it's not even in closed beta stage is quite the assumption.