https://www.kickstarter.com/projects/playdreamworld/dreamwor...
* The infinite open world MMO
* Sculpt the world and create with a massive catalog of objects
* One single world, millions of players
* Explore thousands of unique biomes
* Fight and tame DreamWorld's incredible creatures
Those claims just don't seem very outlandish to me! They aren't even very unique among videogames. There is no standard for what constitutes a "biome" so it seems quite plausible that you could procedurally generate different biomes. The most questionable part is whether millions of players would really be in "one single world", but it seems quite reasonable than an actual limitation would be something like "they are all in the same world, but different areas of the same world require a loading screen", and on the backend it's just implemented with multiple servers, nothing fancy.
Everyone who's familiar with "early access" video games or Kickstarter video games should know, one cool demo video doesn't guarantee a fun game, at all. That's just how video game development works. This one is no different. They aren't a "scam", they are just trying to make a video game.