Looking at the screenshots, it doesn't look like they are not aiming for milking processing power, they are morr worried with a pretty enough look, i would even say it looks more like an late ps2 game at HD or early ps3 game.

If this is so, making a game that looks more like a late AAA ps2 games in HD should be much cheaper now, I don't know if 2 million would be enough, but I also believe having OK graphics at ps4 shouldn't be 100 million dollar like some claim.

the kickstarter was to gauge consumer interest.

If you have ever played shenmue you know that it is full of detail, interactivity with everything, talking with everyone, exploring everywhere. All of the voice work, story writing and cutscenes take time also. This kind of thing takes a lot of time and manpower even if you don't have good graphics. That doesn't mean it needs 60 million dollars but i can't imagine it for under 20 million without compromising the detail that was in the original game.