It's the business model that is the problem no the tech. This dude spent 5 hours trying to hack his printer. He is the problem! Just value your time and go out and buy a decent printer ffs. To get a printer this bad you have to spend next to nothing on it :-)
It's not worth it; you'll never be able to make it cheaper than a good small-office printer.
If you want a nice printer that is reliable, has ultra-cheap cost-per-page, is rated for 50,000 pages per month, uses Postscript, etc., they're out there, but you're not going to find one for less than $50. But you can find one for $300-1000 (depending on if you want color or B&W). Your kickstarter project isn't going to be able to beat that.