For smaller (indie) studios it can make sense. If the game costs more money to developed than the developer has, preordering is indistinguishable from crowdsourcing like kickstarter. It removes the need for the developer to take a loan and investors, possibly giving up creative freedom.
Anything backed by a (big-ish) publisher should never be preordered!
Few Years ago I read an article like " study finds you can get self driving cars to crash by throwing a human shaped pupped in front of them". I was like, yeah no shit that also works for humans.