Maybe it's too risky for $200,000. How about $5? 1400 people thought it was worth $5. Another 1000 thought it was worth $10. 2500 people - almost half the backers - gave $25. Only 600 people (10%) gave even $50.
It's also worth noting that a decent number of these donations probably came from the whole Facebook privacy scandal and wanting to stick it to Zuckerberg. Still, I hope they succeed.