Keep in mind that Ferrania is getting help from the local government so that may be driving their cost down. It sounds like they are purchasing the equipment but they must be getting quite a bargain. It says that 25% of the Kickstarter budget is for packaging and shipping the rewards. That leaves $187,500 for purchasing the equipment, dismantling it, moving it to the other facility and setting it up again. I've been involved in many demolition projects of industrial facilities and that seems very low especially when they are re-installing the equipment in another facility. Maybe they are just saving the equipment to set up at a later date. Or maybe it just costs a lot less to do thing like that in Italy compared to what I do in the US.
It does seem like CineStill is asking for a lot for a much smaller scale operation. They don't break down how much is going to the rewards. I just wonder how much Kickstarter scrutinizes these things, I know they are for profit businesses but how much profit do they allow.
Kickstarter does mention this in an email I just got:
We considered a lower goal to give us a better chance at success. But that would mean counting on stretch goals, or some other trick, to raise the money that we actually need.