With $880,998 in funding, well exceeding its $250,000 asking price, Ring was a smart device that was meant to Bluetooth control everything in your life—except that it doesn't. Not by a longshot.

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We debunked the thing outright as soon as it showed up on Kickstarter in March, but that didn't stop thousands of backers from signing up for the product and who are now probably regretting that $269 monetary decision. YouTube user Snazzy Labs breaks down every facet of the ring, and why it's such a terrible, terrible waste of money.

For one, this thing is waaaaay overpriced. As I write this, I have a $200 smartwatch slinging Google Now notifications straight to my wrist. A Bluetooth ring shouldn't even be nearly as close in price unless it can also do my taxes. Second, as Snazzy Labs points out, this thing is massive. I mean kids playing Pretty Pretty Princess wouldn't even want anything to do with this chrome monstrosity. This is all multiplied by the fact that the software is equally as bad with Snazzy Labs referring to it as "comically unusable" with a success rate of about five to ten percent.

Comparing the real thing to the Kickstarter video is also a comedic exercise in itself. This thing was really supposed to do it all, and it doesn't even come close.

Kickstarter isn't all bad. In fact, there are many, many, many great ideas that deserve every single cent they raise, but products like this (and others like it) just make it harder for everyone involved. It makes it harder for legitimate products to earn trust, and it jades Kickstarter supporters who may have been burned one too many times to take a risk on some other seemingly lofty pitch.

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If anything, this just serves as another warning. Kickstarters are not preorders, and false advertising can run rampant. Crowdfund responsibly. [YouTube via Reddit]