Yeah, sounds rigth.
The kickstarter could be used to turn mod -> upgraded and sellable game.
I think people would be ready to chip in for upgraded art assets and additional features. The amount raised should cover engine licence and the improvements.
Only the improvements would benefit the players, so the target amount should be quite high.
This leads to a question, what if the engine licence would skipped all together and all the kickstarter money would be used to upgrade the mod. Like in the original kickstarter campaign.
In that case , where would the money come for long term development?
Maybe fund raising through website/paypal...