On the one hand, the design is basically done, the manufacturer is ready to go, all EvilDragon would need to do is raise the capital to license the design from MWeston and DaveC (I think the case was designed by DaveC?) and pay the manufacturer.
On that same hand, there's a proven demand for it: 2000 backers pledging over $200'000, that's not a huge market but substantial enough to start a small run. I'm sure he could approach a bank with this business plan and get a loan no problem.
On the other hand, that's 2000 people that have been burned who may not take kindly to having their money basically flushed away when another differently named yet seemingly identical device starts appearing on tech sites. Although EvilDragon would be entirely in the right, I suspect the negative publicity would be far more than he could handle.
Ultimately, as much as I want an iCP2-like device, I really think for everyone's sanity it just needs to die. Maybe MWeston could shelve the design and bring it back in a year or two when the smoke is clear and there's a more established separation.