I like this model. I like open source because if you get hit by a bus as an indie dev, somebody like me can keep going. I do disagree that people wouldn't use it now (if it is in some state of working) and you could raise money if you want to spend more time/add more features/pay a designer and then it would be up to the community if they wanted those things or not.

Or you could keep it closed and ask for money and I would still consider buying it. I in no way feel disrespected by you saying that you'll make it open once you have hit some level of funding that you feel is appropriate, I can contribute or not at that point.

One anecdote deserves another I guess.