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RIsks are there for those who desire them.
You know what's the simplest and most effective way to sell a risk to someone?
Make them think it was their idea and that they wanted it all along.
Less than 2 hours of playtime and bought less than 2 weeks ago.
No one guarantees Early Access from releasing like no one guarantees a non Early Access game won't be updated to add microtransactions or made F2P.
Follow the Early Access FAQ to the T if you want to avoid unmeeted expectations.
To be fair, it was already before Steam that such kind of games were made. Most famous of course Minecraft and Star Citizen which both raked in millions. But also Facebook games with their eternal "Beta" status and games like Towns that where all but finished without telling people outright.
At the very least Early Access gives you a warning. But there are more than enough examples that don't bother with it and don't even have the honesty to call themselves beta or similar.
It's all in the wrapping tho. "Beta" clearly conveys an unfinished state, likely glitchy and maybe even unplayable before fixes.
The way early access was sold on front page, was like "hey, this is how you get exclusive first peeks, participate in the development, and can support the developers as the game matures before release" and whatever.
What a surprise people complain about having "invested" in something - the sales pitch virtually told them that's exactly what they were doing.
Oh yes sure, there is the FAQ and the store page disclaimer, that takes care of the legal, boring technical stuff.
But the introduction was carefully designed to make people not bother with the boring, technical stuff because look at all this cool stuff you think you're buying and if you figure out you've been had, we'll just tell you you should have read the notice that was on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying ‘Beware of the Leopard.'
That's how advertising works these days, and yes, I consider advertising a very unethical industry.
But hey, maybe people will wise up and stop buying into this one day. It's the only way for it to go away.
A, who am I kiddin', we're stuck with it.
And this is the crux: people don't wise up. Or at least there's a new sucker born every minute.
One would think after years of Day Z being in Early Access virtually going nowhere and all the stories surrounding the programme, people did wise up and don't throw money at it willy-nilly. Same for Kickstarter.
Same for hyped games full of promises and "genre defying" experiences.
From a business point of view it's stupid to let something as flexible as ethics or morale be in the way of making millions. Especially when history proves that you can make customers forget (and forgive in terms of PR damage) easily as every rage only lasts until the next outrage by someone else.
Not even that. Ask me, ask Jeff Bezos, and ask an Eritrean refugee about the value of one dollar.
It's very clearly stated on the store page what you are getting or what you may never get when you buy an Early Access game.
Anybody who buys EA games and complains later on down the road that the game was never finished or changed from what it was originally described as, is an idiot.
This would be horrendously abused, people will just buy an EA game and play it will bored and refund.
Also they can't anyway, Steam holds the funds paid to them for 14 days and then pays the publisher / developer. They can't demand they give them the money back after that point to give to the customer.
The problems don't usually lie so much on the product advertising and marketing as it lies on self-made expectations.
We're not short of people who still want HL3 to be done, expecting to be up to a decade of expectatives. And it's not a game that's been even marketed.
Well, fueling expectations by being vague and not denying anything is also part of advertising strategies.
See the new Kojima title which was full of BS marketing phrases. Or Star Citizen that still tries to deliver on dreams. Or Rust with its "trust us, we know what we are doing" approach.
Nowadays you don't need a Peter Molyneux telling you the impossible to achieve what everyone dreams about in video games. People do so for themselves. Probably even agitated by sock puppets in social media who start rumours.
Some would call it unethical advertising. Saame would probably call Molyneux a notorious liar. Others would call it making people believe and fueling dreams so that they might come true.
Business ethics is quite funny after all. I am still salty about my ex making many times my salary being a consultant for this.
In other areas people are less prone to take seriously vague statements and 'hype'... But when we're talking games, movies, books, TV shows... Boy do we cave in head first.