Aside from the already asked question of why didn't they pony up the $28, the second thought that hits me is perhaps Kickstarter should have a margin where they will allow the project to continue at the digression of the project management? I.e. if you're within 1% of your stated goal ($500 in this case) you can choose to continue.
I could see projects that perhaps really had loftier goals and set a low number to try to encourage people to commit bow out it they were within the 1% threshold. Meanwhile being less than a tenth of a percent from your goal and not making it really sucks and likely isn't beneficial for anyone involved.
edit: Another thought: If KS still wants a hard cutoff, give the project another 6 hours or something to make that 1%.
I could see projects that perhaps really had loftier goals and set a low number to try to encourage people to commit bow out it they were within the 1% threshold. Meanwhile being less than a tenth of a percent from your goal and not making it really sucks and likely isn't beneficial for anyone involved.
edit: Another thought: If KS still wants a hard cutoff, give the project another 6 hours or something to make that 1%.