If I had limited gaming funds, I would certainly consider getting a refund for the game, and I'm certainly not going to tell people to "hold onto their game" and assume that other people have as much in their gaming fund as I do. A lot of people have a huge opportunity cost with their gaming funds. Game A *or* Game B is a real and difficult choice. Obviously if someone bought Elemental, they're interested in the genre, and will be back in 5-6 months when the game works and it's not a risk (not to mention that it's likely they'll pick it up at a bargain price). If not, well, it's a good lesson for Stardock to learn: don't release early (and especially don't condescend and pretend that it wasn't released early when it's pretty obvious to everyone that it was). I'm just guessing, but I'd bet the "early release" was due to being in retail stores - the bane of so many game companies trying to arrange for shelf space so far in advance. I know (both as a developer and as a former game dev of a AAA studio) the inclination to overcommit, or at least feel confident with "Yeah, our team can do that in 9 months".
I pre-ordered it a week or two after it went on pre-order in 2009 (or was it 2008? I don't recall exactly), so I'm not too worried about the money that I was charged so long ago. I seem to be having a lot of bad experiences with pre-ordering over the last year, though, so I'm really going to have to sit down and think about whether it's worth it or not. I mostly live my gaming life vicariously through my kids now, but TBS games are impossible for me to pass up.
Personally, I've had several crashes (one of which was after I finished the final campaign battle, which was very hard to win keeping my heroes alive) - and lots of polish issues. I've waited this long - I can handle waiting another few months. I have a huge backlog and I was planning on playing Elemental until Civ 5 comes out... So backlog, here I come. Elemental won't be back up to the front of my queue until after the few RPGs that follow Civ 5's release. I'm pretty sure it'll be done by the time I get back to it. It better be!