Some artists can afford making an album without crowdfunding but they do it "to ensure the customer's loyalty" as they say in business. Contributors/fans feel privileged to experience the making-of a record, some artists invite them into the studio to add some back-up vocals, they include their photo on the inner sleeve or booklet, they offer them a concert for free with a laminated backstage pass, etc.

Idk what Matt O.'reasons are but he released self-produced albums in the past so maybe this crowdfunding is not just for the money, he may be trying to check his new popularity after playing a dozen shows with BJ.