In short, in numerous ways. I would have to get a better sense around what particular perspective you are taking. Remember, there are many different flavors of crowdfunding (equity, donation, debt, and more). Keep in mind, traditional venture capital groups are not competitive to crowdfunding; they are highly complementary. The earlier stages of a venture are often friends and family rounds, not VC, traditionally they have seen relatively poor structure and limited protection to both entrepreneur and investor(s). Accelerators, such as Dreamit, are more interested in post-seed companies. We use crowdfunding as one of several measuring sticks by which to assess a venture.
Feel free to call me if you want to discuss further.