I don't really have a problem with drawn-out development cycles, so long as there are actual, y'know, releases. I mean we're on the Dwarf Fortress forums -- surely all of us understand following the development of a game over a sustained period of time. I've been playing Dwarf Fortress for 7 years and I still get hyped for new releases.
Things might get a bit murkier when you pay money for a game, but I have a different philosophy than most people. I think Patreon is probably closer to my platonic ideal of game development -- rather than having a dev team sink tons of their own (or publisher) money into a product and then gamble on the possibility that it sells well whenever (if ever) the game releases, finding fans who are willing to pay to be a part of the creation of the game, offset the cost of development, and just generally keep the cogs turning seems like a much better idea. Instead of paying a company for a game, and then that company pays the programmer's salary, why not just crowdsource the programmer's salary?
If there was a playable version of That Which Sleeps, even if it was buggy, unfinished, whatever -- I'd happily toss $10 or $20 a month to the devs for as long as they kept working on it and releasing updates. That's not $10 or $20 to get access to the game, that's $10 or $20 with the understanding that I, alongside many others at various price points, am funding the free availability of the game for everyone, Dwarf Fortress-style.
There's an important caveat here: I don't think this development model would work for every game. It wouldn't even work for most games. But for games like Dwarf Fortress, Rimworld, Aurora, Factorio, Minecraft, and yeah -- That Which Sleeps -- I think it's viable. Games where development doesn't just end. Probably most games that derive their value from mechanics rather than story.