It's a poor argument. All you have to do is look around and see how many VN's are abandoned/unfinished. It's a plague. Donations for unfinished works, only incentivates devs to abandon their work and start a new one.
The racional is simple: If 90% of the people who are interested and willing to pay for the full game, already did pay for 50% of the work, why should I bother to do the other 50%?
Might as well start a new one from scratch, with just enough to entice people to once again dish out their money, and keep on rince and repeat going forward.
No donations for unfinished works. That's my policy.