I’m honestly confused why you think they are millions (plural!) over budget. Their budget was obviously the $3.3m, the funding they received. That’s what they planned with. To act like their budget was $400,000 the whole time is just weird and not true at all.
So if their budget is $3.3m I’m not sure where you are getting the info from that they are (already) millions over budget. When all is said and done the game will probably cost more than $3.3m, sure, but I‘m also not sure why that matters. It’s not like putting their own money into it is somehow wrong. It’s their game, they can do what they want.
Five months delayed. Millions of dollars over budget. No product.
I can't think of a better example of unfinished.