Add.: Actually, it's more like less than $165k, since about 45% of Kickstarter money tends to go to taxes, business costs, reward fulfillment, et cetera.
I don't judge games based on cost efficiency baselines so that is irrelevant to me. Low budgets merits strong art direction but they also didn't have that either.
If we're talking art direction, the game seems to have some pretty good designs. Hat Kid herself looks pretty striking and the world around her has plenty of charm.