Well, they got $70K their first day, so who knows? Maybe they'll make funding? Since they're not running this through kickstarter though, they don't have to get the full $1.5m to fund the game. From their FAQ:
Our financial goal is a flexible one. All contributions will go directly towards the development of this game and making it a reality. We are committed to making this game, however, if it becomes apparent that we cannot raise enough to develop this project then we will refund all pledges.
"The worst of it all is i used to ENJOY getting excited for big titles like this, but these publishers just keep ruining my love for this wonderful hobby with their endless fuckery." - Sempai