Dev wrote on Sep 5, 2012, 12:29: How would it defeat the purpose? A refund after a year or whatever would be taking it out of the troll's pockets for that long, and if it was a fraud project, then it would get reported and they wouldn't get it back at all.
The purpose is a barrier of entry to cut down on pointless submissions and ill thought out projects seeking to make a buck, as already explained by both the news source and others. Most payment processors will not allow you to put a hold on a customers card for anywhere near that long and I don't see Valve establishing their own escrow service. This is a fine solution and will do exactly what is intended while also putting some money into a charity.
few indies will spend the $100 stuff
This isn't the only way to get your game on Steam, there is still the traditional method of contacting Valve directly and going through their process. Seeing as many small indies have enjoyed success on Steam I can't agree that they wouldn't view a $100 as money well spent. Greenlight isn't just game approval, its eye balls and feedback too.