A lot of stuff that I consider a deal breaker has already been mentioned (like needs Steam/UPlay/Origin account or online activation) but everybody seems to have forgotten this one:
This translates to: "We couldn't be bothered to carry the risk of game development, so we release an unfinished game (about 1/5 of the planned content) and finance the rest of the development through selling the unfinished first part. If this doesn't work out we don't care that our customers will have paid for an incomplete product because we *never guaranteed* there would be a next episode. On top of that we are a greedy bunch. We know we could never get away with charging 100$ for a game but by chopping it up into 5 pieces for 20 bucks each we can get people hooked on the first episode and then continue to milk them during the next year until we have the 100$ per customer"
I never buy episodic games until all parts have been released and are sold together for a competitive price.
I can't +rep you enough for this post. Also, I couldn't agree with you more.
There's only one episodic game I bought in my entire life, and that's Broken Sword 5, mostly because I trust Revolution Software and I was craving a decent Broken Sword game for years (well, maybe I shouldn't trust Revolution that much, since Broken Sword 3 and especially 4 were utter crap, but, still... their plans for this new one seemed to be heading in the right direction again).
Our own exceptions and guilty pleasures aside, episodic content is definitely not my cup of tea, and the reason I didn't back quite a few Kickstarter projects that interested me at first.