This worked in OG Elite because we didn't (and probably couldn't conceive of) layers of challenge in the same way we do now. So an extnded cargo bay was better than the stock 20 tonnes. Military lasers were better than pulse lasers - but the skill in getting a ship in the crosshairs was the same.
It also worked in the original (and to a less well-balanced extent in FE2/FFE) because Corporate and Anarchy systems were extremely distinct. There were quite a few layers of challenge there which were a lot less optional than ED's. Sure, you could do the mid-profit Leesti-Diso run forever if you wanted.
Your basic pulse laser would take on the likely enemies of a Corporate (a rock) just fine.
When you were surrounded by a pack of six pirates in an Anarchy, with more on their way, and needed to fight a running battle all the way to the station, all those upgrades came in really useful.
Furthermore, going to the Anarchy rather than the Corporate you got the bounties from the kills, so you benefited from a faster earning rate ... rather than most of the efficient earners in Elite Dangerous (especially of materials rather than credits) being the zero-risk ones as well.
As I understand it (which means I could be wrong), Frontier did not come away from the kickstarter with a good and happy outcome. This put them off doing a kickstarter or crowdfunding ever again.
While I think it's fair to say that they made mistakes during the Kickstarter (which I've also seen a lot of other high-value crowdfunders make) in terms of over-promising rewards or making that infamous video, I think the reason they haven't done one since is simpler: there's been no need to.
Frontier in 2012 was a fairly small company with a few million in the bank, slow revenue, and big ideas. At that point, getting a massive crowdfunding success was exactly what they needed to also get a successful share issue and commercial investments to obtain the ~£7-8 million needed to develop Elite Dangerous 1.0. The Kickstarter £1.4 million was obviously financially pretty important but nowhere near enough on its own. And then ED launched to great success, immediately recovering its development costs and then some.
Frontier nowadays - even with its recent financial troubles - has tens of millions in the bank, and solid income streams from its better-performing games bring in over £100 million in annual revenue. Spending a couple of months effort just to get another £1 million or so by crowdfunding isn't really useful. The Kickstarter raised £1.4 million in two months. Looking at their figures in the latest presentation, Elite Dangerous is still bringing in ~£6 million a year, which - okay, there's been a bit of inflation, it's not directly comparable - is a pretty similar rate. In its best years, Elite Dangerous the released game brought in money
faster than the Kickstarter did (and they spent most of it on developing Odyssey)
Frontier - or anyone else trying to produce this scope of space sim [1] - are just operating at a scale where only the most anomalous crowdfunding successes could possibly cover it. Checking Wikipedia it only knows of
two software crowdfunders which cover even the full costs of developing ED 1.0 (Star Citizen, obviously, and it counts the sales of the Alpha version of Prison Architect as a second, which isn't crowdfunding in the Kickstarter sense) ... the highest amount raised for a video game in a bounded Kickstarter-style crowdfunder is around $7 million, which wouldn't (allowing for inflation) quite be enough.
[1] And even more so the "Elite 5 which contains everything ED does plus everything David Braben fantasised it could" dreams. No-one can make that.