In an mmorpg I prefer stylized over photorealism simply because its extremely difficult to make such a huge game while maintaining the same attention to details.
My initial reaction on watching the clip was that it looked ugly, not because the game lacked attention to graphical detail but instead it was the feeling that the attention to graphical details weren't cohesive. The sedimentary rock species and plants didn't feel as real as the rocks, trees and grass. The characters felt like they were taken from a different game.
Its easier to get things to look cohesive if you shoot for something more stylized.
If you want to look at a role model for crowdfunding you should look at board game developers that release their products close to their estimated release date and not video game projects that run years late.
Grimoire: Heralds of the Winged Exemplar was in development for more than 20 years and detractors said that the game would never launch. Today the game launched on steam proving all those detractors wrong. The game still has some minor issues like double-clicking on character portrait will crash the game but that's just haters being haters that can't handle launch issues.
Just give them enough time and I'm sure that Chronicles of Elyria will launch as well. Not like it will help since haters will complain about launch issues that will be fixed if we just give them even more time.