There's an article up on Verge backing up what I said.

The Edge will fall short of its target and will be cancelled. The only salvation is if another company decides to do a partnership over the whole project: Yahoo as some pointed out.

I learned a new thing about the Canonical Edge just then. There's no plans on making more models. Basically, once the project is completed the only way to get a unit yourself is to buy from a backer.

This means its not really a "Kickstarter" its a project on its own. I kind of understand the need to put the goal that high right now (cover R&D costs involved). But I still say its a dick move.

They should've gone with a $10M target (or 12,000 Backer units).
They should've started the pricing at $750 (sets a limit to follow) then made better "stages" based on things like Engraving, free accessories, Bootup Screen with your name, A tribute to you and other backers on X, T-Shirt etc etc.
...then make plans to produce the phone thereafter, perhaps another 38,000 units or $30 Million.

Sure its not ideal, and could be "chump change" for large companies... but this approach guarantees success and a warm place for people to hold you dear.

It also opens up the doors for a sequel, a successor, a true competitor to the Superphone race, a brand name, a contract for selling, a recipe for success... ... ...